Huntsman buys AECI's 40% stake in their African TiO2 jv
12 April 2002 17:11 [Source: ICIS news]
LONDON (CNI)--UK firm Huntsman Tioxide Plc confirmed on Friday
that it is to purchase AECI's 40% stake in their South African
titanium dioxide (TiO2) joint venture.
Huntsman Tioxide will pay Rand85m ($7.6m/Euro8.7m) for the
stake, which will give it full ownership of the Huntsman Tioxide
Southern Africa (HTSA) joint venture. The transaction is expected
to be completed by the end of June.
HTSA produces approximately 45 000 tonne/year of TiO2
at Umbogintwini in KwaZulu-Natal. It has been a joint venture
between South Africa-based AECI and Huntsman Tioxide, formerly part
of ICI, since 1960.
AECI has been restructuring its operations to focus on
explosives, specialty chemicals and specialty fibres.
ICIS Copyright © Reed Business Information 2009
Author: Anna Jagger+1 713 525 2653
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