The Woodlands, Texas – Huntsman completed the $2bn sale of its intermediates and surfactants business to Indorama ventures on 5 January 2020. The net cash proceeds of the deal will be about $1.6bn, the company said.
Huntsman completes chemicals & intermediates sale to Indorama
Speaking about the deal, CEO Peter Huntsman said: 'This transaction greatly expands our flexibility and opportunity for select strategic and accretive acquisitions.' He added it gives the chance for 'expansions in our core downstream global footprint'.
He suggested some likely areas for purchases when he spoke about the deal in August 2019. '[There] is an overlap between the coatings, adhesives and elastomers business,' he said. 'Acquisitions in those three areas … could fill some of the voids between our downstream epoxies, urethanes and our amines businesses. I see a lot of opportunity.'