Hunstman is selling its chemicals intermediates business to Indorama Ventures for US$2bn.
The Thai chemicals firm will take control of Huntsman manufacturing sites in Port Neches, Dayton, and Chocolate Bayou in Texas, US; Botany, Australia; and Ankleshwar, India. Products manufactured at these sites include ethylene oxide, propylene oxide, glycols, surfactants and MTBE.
Huntsman CEO Peter Huntsman said: “This is another milestone in our stated strategy to focus more on our downstream and specialty businesses where we will generate more stable margins and consistent, strong free cash flow.”
He added: “This is also a transformational opportunity for Indorama Ventures that provides them hundreds of product grades and thousands of customers. Huntsman looks forward to continuing to work with Indorama Ventures as a customer and manufacturing partner through long-term commercial arrangements, including propylene oxide supply.”
It is the largest acquisition by Indorama, which described the deal as “game-changing”. Indorama Ventures CEO Aloke Lohia said the purchase accelerates the firm’s efforts to become a global, diversified chemicals company.
By Adam Duckett
Source: The Chemical Engineer
LANXESS intends to stick to its strategy of organic growth, increasing its focus on consumer protection chemicals and developing battery technology operations in the face of disruption from the coronavirus […]
The UK printing industry supply chain has called on the UK government to ensure the necessary supplies of ethanol, n-propanol, and other relevant raw materials are maintained for the ink […]
Indiana-based Hillenbrand’s fully owned subsidiary Milacron Holdings has signed an agreement to sell its Cimcool business to DuBois Chemicals for $224m. In addition, Hillenbrand will receive $26m in contingent purchase […]
