29 August 2013 23:04 [Source: ICIS news]
HOUSTON (ICIS)--Huntsman has completed the acquisition of Oxid’s business for $75m (€56m), Huntsman announced on Thursday.
Houston,Texas-based Oxid manufactures and markets specialty urethane polyols, which are a key component in the production of polyurethane (PU) insulation products.
The polyols are combined with methyl di-p-phenylene isocyanate (MDI), for which Huntsman is a leading global producer, to make PU foam insulations for walls, roofs, refrigerators and other applications.
“We are very pleased with the acquisition of Oxid,” said Anthony Hankins, president of Huntsman's purethanes division.
“In the past 18 months, we have strengthened our downstream capabilities with the acquisition and establishment of new systems houses in Turkey, Russia and Indonesia; acquired a 20% stake in Nippon Aqua Co Ltd, a Japanese spray polyurethane foam insulation company; we've commissioned a new, state-of-the-art MDI splitter and downstream manufacturing unit in Rotterdam, the Netherlands; and we've invested in the expansion of our worldscale MDI manufacturing facility in Geismar, Louisiana.”
($1 = €0.75)
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