HOUSTON (ICIS)--Huntsman has acquired carbon-nanotube producer Nanocomp Technologies , the CEO of the US-based epoxy-resin and polyurethanes company said on Friday.
CEO Peter Huntsman did not discuss the financial details.
Nanocomp will allow Huntsman to develop composite materials and formulations that produce several valuable effects such as radiative heating, electrical conductivity, toughening and corrosion prevention, Huntsman said. He made his comments during an earnings conference call.
These composite materials are used in the aerospace, automotive and electrical-power industry, Huntsman said.
Carbon nanotubes represent a relatively new material that can be added to epoxy resins and polyurethanes to produce composites.
Automobile and aircraft producers are replacing heavier materials with composites to make their producers lighter weight and more energy efficient.
Carbon nanotubes could provide composites with additional properties on top of lower weight.
"We believe that the integration of this technology within our advanced-materials portfolio and potentially other Huntsman business platforms will create additional commercial growth opportunities for us going forward," Huntsman said.
"This acquisition primarily brings new technology that needs to be commercialised," he said.
As a result, over the next year, Nanocomp should not contribute additional earnings before interest, tax, depreciation and amortisation (EBITDA).
Instead, it will add a modest expense as Huntsman integrates the company and develops the best routes to market the technology, he said.