23 June 2009 04:41 [Source: ICIS news]
SINGAPORE (ICIS news)--Huntsman has acquired the Baroda Division of Metrochem Industries, an Indian producer of intermediates and specialty chemicals for textiles for an undisclosed amount, the US-based company said on late on Monday.
"This acquisition is a major milestone in our strategy. With this move we are realigning our manufacturing footprint towards
Baroda Division currently has over 700 employees and contractors, and current annual sales of about Indian rupees (Rs)2.4bn ($49.6m).
"This vertical backward integration will significantly strengthen our competitiveness and support our development in Asia, and most notably in
($1 = Rs48.36)
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