17 September 2013 16:24 [Source: ICIS news]
HOUSTON (ICIS)--Huntsman is confident that competition authorities in the EU and the ?xml:namespace>
The acquisition, announced earlier on Tuesday, will make Huntsman the world's second-largest TiO2 producer after DuPont.
CEO Peter Huntsman told analysts in a webcast briefing that despite a 16% share of global TiO2 production capacity and a strong position in
“We see TiO2 as a globally fungible product, and we believe that [regulatory approvals will] get through fairly quickly,” Huntsman said.
“Between 25 to 30% of the TiO2 that is produced on a global basis is moved out of region, and moved around the world,” he said.
Huntsman pointed in particular to TiO2 trade flows into Europe from North America and
“We are going to work very quickly with the regulators both in Europe and
Huntsman expects to complete the deal in the first half of 2014 and plans to list the combined Huntsman-Rockwood TiO2 business in an initial public offering (IPO) within two years of closing the acquisition.
Additional reporting by Graeme Paterson in London
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