The sale of Clariant's textile chemicals, paper specialties and emulsions businesses to US-based investment firm SK Capital has been completed - with the three units now operating under the name Archroma.

The CHF425m (US$470m) transaction will see 2,900 employees transfer to Archroma, which will be led by Alexander Wessels as CEO.

The company says it plans to combine the three units into a single integrated business, headquartered in Switzerland.

The textile specialties business will continue to be managed from Singapore, where it focuses on the entire textile supply chain, with special chemicals for pre-treatment, dyeing, printing and finishing.