Sensient Buys Textile Printing Unit
San Diego-based Formulabs Inc., which produces textile printing technology for digital ink-jet printers, is now part of Milwaukee, Wisc.-based Sensient Technologies Corp., as the company has finalized the purchase of the unit from parent Kimberly-Clark Corp.
Formulabs, which does about $20 million in business annually, will report to Sensient’s Color Division, located in St. Louis.
“The acquisition greatly enhances Formulabs’ capability to continue to formulate and produce high-quality ink-jet inks,” said Formulabs general manager John Blake. “Access to Sensient Color’s high-purity dye technology gives Formulabs a significant advantage in the market.” The transaction also enhances Sensient Color’s ink-jet product development and manufacturing capabilities.
Sensient is a leading global supplier of colors, flavors and fragrances to the fashion industry and others. It has been building up its printing business since 1997, when it entered the market. More recently, it acquired the industrial dye business from Crompton Colors, a Pennsylvania-based firm that works with textiles and non-wovens, among other products.
Kenneth P. Manning, chairman and chief executive officer of Sensient, estimates the acquisitions of Crompton and Formulabs will add $60 million to company revenues in 2002. —Robert McAllister
