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
PepsiCo Europe and crop nutrition company Yara have announced a long-term partnership aimed at providing European farmers with low-carbon crop nutrition solutions to help decarbonise the food value chain. Under the agreement, Yara will supply PepsiCo with up to 165,000 tons of fertiliser per year by 2030, covering around 25% of the food and beverage giant’s crop fertiliser needs across Europe.
BASF has signed an agreement to sell its flocculants business for mining applications to Solenis, a specialty chemicals manufacturer. The divestment of the flocculants business to Solenis is part of BASF’s ongoing portfolio optimisation with the aim of focusing on strategic core areas.
ADAMA Ltd. a leading crop protection company, announced that its board of directors has appointed Gaël Hili as its President and Chief Executive Officer, effective October 1, 2024. Hili will join the Syngenta Group Leadership Team and will be based in Tel Aviv.