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Huntsman announces acquisition of remaining 50% interest in Sasol-Huntsman JV

July 30/2019

MOSCOW (MRC) -- Huntsman Corporation has announced that it has signed a definitive agreement with Sasol to acquire the 50% interest that Huntsman does not own in the Sasol-Huntsman maleic anhydride joint venture, reported CISION PR Newswire

The joint venture owns a manufacturing facility in Moers, Germany with capacity to produce 230 million pounds of maleic anhydride.  Huntsman will pay Sasol USD92.5 million, adjusted for debt and other agreed upon terms, funded from available liquidity.  No other terms of the transaction were disclosed.  Huntsman and Sasol currently anticipate the closing of the transaction to occur in the fourth quarter of 2019, subject to regulatory approvals and customary closing conditions.       

Peter Huntsman, Chairman, President and CEO commented: "Acquiring the remaining interest in our maleic German joint venture from Sasol will provide us with the flexibility to fully integrate our European business into our worldwide footprint, thereby better servicing our global customer base in key markets such as construction and coatings. This fits well into our core strategy to expand our portfolio of businesses with higher, more stable margins and strong free cash flow."

As MRC informed before, in March 2018, Huntsman Corporation announced the acquisition of Demilec, one of North Americas leading manufacturers and distributors of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from an affiliate of Sun Capital Partners, Inc.

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2018 revenues of more than USD9 billion. Its chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. The company operate more than 75 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 10,000 associates within its four distinct business divisions.
Author:Margaret Volkova
Tags:North America, PVC, maleinoviy angidrid, poliuretan, footwear, Huntsman, Sasol, Germany.
Category:General News
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