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Huntsman Corp acquired Gujarat-based chemicals producer Laffans Petrochemicals

April 04/2011

(Plastemart) -- Huntsman Corp has acquired Gujarat-based chemicals producer Laffans Petrochemicals, and has also taken the ownership of the company's 60 KT ethylene oxide derivatives facility at Ankleshwar. Laffans ethylene oxide derivatives unit set up in 1994, had revenues in excess of USD 50 mln in 2010. The Ankleshwar plant was set up under technical assistance from Reliance Industries and is in proximity to the Hazira plant. The unit operates the largest loop reactor in the country and its glycol ethers and acetates unit has a capacity of 30 KTa.

Huntsman India has its facilities at Navi Mumbai and has been having a technical collaboration with Laffans for the past two years. India contributes to a little over 3% of its global revenue of USD 9.2 bln in 2010.

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