Huntsman continues to look for bolt-on acquisitions, the CEO of the US-based producer said on Friday.
The company will focus its search on epoxy resins, amines, surfactants and downstream methyl di-p-phenylene isocyanate (MDI), said Peter Huntsman, CEO. He made his comments during an earnings conference call.
“We are looking at a number of projects before us right now,” Huntsman said.
Any targets should have some element of integration to it before the company can justify acquiring it, he said.
“In the past, I think we’ve been very successful in buying and integrating smaller bolt-on acquisitions,” Huntsman said. “I think with a stronger balance sheet, that will expand the target and that will expand what would be the size of those targets, but I think we will need to continue to be very balanced in that approach.”
The company is keen to maintain its long-term investment-grade metrics, he said.
Acquisitions make up one of four priorities for the company, Huntsman said. The other three are to continue investing in organic growth, returning cash to shareholders and continuing to sell its stake in the pigment producer Venator Materials. If all goes well, Huntsman should complete this sales process later this year.
Huntsman spun off Venator in 2017.
By Al Greenwood
Source: ICIS News
During a European Industry Summit held on the site of BASF in Antwerp, leaders from basic industry sectors, representing 7.8 million workers in Europe, joined forces with European trade unions and European leaders to address pressing concerns regarding Europe’s industrial landscape.
The use of blue or low-carbon hydrogen, made from natural gas with carbon capture and storage (CCS), could increase near-term global warming by 50% compared with burning fossil fuels directly for energy if emissions are not properly managed, according to a new study by NGO the US Environmental Defense Fund (EDF) and the University of Arizona.
In a move to improve the supply of renewable hydrogen and thus reduce dependence on natural gas and contribute to achieving the objectives of the European Green Deal and the REPowerEU plan, the EU Commission has approved a third Important project of common European interest (IPCEI) to support hydrogen infrastructure.