21 August 2013 21:51 [Source: ICIS news]
HOUSTON (ICIS)--The sale of polyols manufacturer Oxid to US-based Huntsman should be completed by the end of August, a source close to the negotiations said on Wednesday.
The purchase of Oxid should provide Huntsman with greater leverage in the polyurethanes (PU) products markets, sources said.
Huntsman had expected the deal to close in the third quarter.
“We see strong market and technology synergies in combining the two businesses,” Anthony Hankins, president of Huntsman's polyurethanes (PU) division said when the transaction was announced in July.
Oxid, a privately held maker and marketer of specialty urethane polyols, generated $86m (€65m) of revenue in 2012, according to Huntsman.
The terms of the sale were not disclosed.
($1 = €0.75)
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