Huntsman Signs Agreement to Acquire U.S. Polyols Manufacturer, Oxid L.P.
Oxid's polyols are a key component in the production of energy saving polyurethane insulation products that are used in residential and commercial construction. The polyols are combined with methylene diphenyl diisocyanate (MDI) – in which Huntsman's Polyurethanes division is a leading global producer – to create polyurethane foam insulation for walls, roofs, refrigerators and many other applications.
Oxid markets its diverse product line of specialty polyols under the trademark Terol® and distributes products worldwide from its manufacturing facility in
Commenting on the planned acquisition,
"As growth in the U.S. housing and construction markets gathers pace, we aim to leverage the significant benefits of MDI polyurethanes insulation and this acquisition will strengthen our position considerably. We see strong market and technology synergies in combining the two businesses and look forward to concluding the deal in the near future."
The transaction is expected to close during the third quarter and will be immediately accretive to Huntsman's earnings. Oxid generated
Terol® is a registered trademark of
Huntsman is a global manufacturer and marketer of differentiated chemicals. Our 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 2012 revenues of over
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
Media, Gary Chapman, +1281-719-4324, or Investor Relations, Kurt Ogden, +1-801-584-5959