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
INEOS Inovyn announces a new Ultra Low Carbon range (ULC) of Chlor-Alkali products that reduce the carbon footprint of caustic soda, caustic potash and chlorine by up to 70% compared to industry averages. The new range uses renewable energy sources to power INEOS Inovyn manufacturing sites.
Solvay operates seven soda ash plants worldwide. Beyond Green River, coal is being phased out at two of the company’s plants in France and Germany. By the end of 2024, the Rheinberg, Germany site will become the first soda ash plant in the world to be powered primarily with renewable energy.
The Chemours Company has named Pamela Fletcher to its board of directors, effective March 1. Fletcher, formerly the chief sustainability officer at Delta Air Lines Inc., takes the seat of Sandra Phillips Rogers, who has opted not to stand for reelection to the company’s board.