DyStar said it has become a wholly owned subsidiary of China’s Zhejiang Longsheng Group, completing an ownership transition that ends a prolonged shareholder dispute and consolidates control under its largest investor.
The global textile dyes and chemicals maker said, Zhejiang Longsheng acquired the remaining minority stake previously held by India’s Kiri Industries, following years of legal proceedings over governance and valuation.
Zhejiang Longsheng, a Shanghai-listed specialty chemicals group, has been DyStar’s majority shareholder since 2010. Full ownership is expected to simplify decision-making and provide clearer strategic direction for DyStar’s global operations, which supply dyes and specialty chemicals to the textile, leather and paper industries.
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DyStar said the ownership consolidation would allow the company to focus on long-term growth, innovation and operational efficiency, while continuing normal business operations across its manufacturing and distribution network.
The transaction formally closes the dispute between Zhejiang Longsheng and Kiri Industries, which had involved court-appointed oversight in recent years.
Zhejiang Longsheng has been expanding its international footprint in specialty chemicals, and the full integration of DyStar is expected to strengthen its position in the global textile chemicals market.
