Huntsman Announces the Sale of its Stereolithography and Digitalis® Machine Manufacturing Businesses to 3D Systems Corporation
THE WOODLANDS, Texas, Nov. 1, 2011 /PRNewswire via COMTEX/ --
Huntsman Corporation (NYSE: HUN) today announced that its Advanced Materials division completed the sale of its stereolithography resin and Digitalis® machine manufacturing businesses to 3D Systems Corporation for $41 million in cash.
The stereolithography business had revenues of $7 million in 2010 and its products are used primarily in three-dimensional part building systems. The Digitalis® business is a stereolithography rapid manufacturing system previously under development by Huntsman.
Commenting on the sale, James Huntsman, President of the Advanced Materials division, said: "We are pleased that 3D Systems Corporation is now owner of these businesses. 3D has a rich heritage of being a pioneer and industry leader in stereolithography and rapid manufacturing systems. We are confident that these assets will be a great fit for 3D. This sale further enables us to concentrate our focus on our core competitive and strategic strengths, the construction, coatings, power, aerospace and electronics applications."
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2010 revenues of over $9 billion. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
SOURCE Huntsman Corporation