US Huntsman acquires remaining interest in Russia PU joint venture

03 July 2012 16:10  [Source: ICIS news]

HOUSTON (ICIS)--Huntsman has acquired the remaining interest in its Russian polyurethane (PU) joint venture, giving it full ownership of Huntsman NMG (HNMG), the US-based chemicals firm said on Tuesday.

Huntsman had formed the PU joint venture in 2007 with Russian firm NMG.

HNMG supplies PU systems to adhesives, coatings and footwear markets in Russia, Ukraine and Belarus.

Anthony Hankins, president Huntsman’s PU division, said full ownership would give Huntsman greater access to customers in coatings, adhesives and elastomers markets in fast-growing economies.

“The Russian Federation is recognised as an important and fast-growing economy, with double digit growth rates predicted for PU products,” Hankins added.

Financial terms were not disclosed.

By: Stefan Baumgarten
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly