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The global adhesives producer Huntsman Corporation has completed the sale of its India based Do-It-Yourself consumer adhesives business, within its Advanced Materials division, to Pidilite Industries Ltd. for approximately $257 million.

  • Under the terms of the agreement Huntsman may receive up to approximately $28 million of additional cash under an earnout within 18 months if the business achieves sales revenue in-line with 2019, for a total value of up to $285 million, excluding working capital and other adjustments.

The major deals and expansions by Huntsman Corporation are featured below:

Sept 2020: Huntsman Corporation signed an agreement with SK Capital Partners, LP to sell approximately 42.5 million of the shares it holds in Venator Materials PLC for approximately $100 million.

March 2020: Huntsman Corporation announced an agreement to acquire CVC Thermoset Specialties, a North American specialty chemical manufacturer for $300 million. CVC Thermoset, part of Emerald Performance Materials LLC, is serving industrial composites, adhesives and coatings markets across the world.

December 2019: Huntsman Corporation, has completed the sale of its chemical intermediates businesses, which includes PO/MTBE, and its surfactant businesses to Indorama Ventures for approximately $2 billion. With this acquisition, Indorama has enhanced its US footprint in polyurethanes segments. The transaction includes manufacturing operations in Texas, Australia, and India. Huntsman will retain ownership of a diglycolamine, or DGA, plant at Port Neches, the USA. The deal also includes HuntsmanÕs linear alkyl-benzene (LAB) manufacturing site at the Chocolate Bayou site south of Houston and a surfactants plant in Dayton, Texas.

December 2019: Huntsman Corporation expands its SPF business with an agreement to acquire Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from an affiliate of FFL Partners, LLC.

About Huntsman Corporation
Huntsman Corporation, a Texas-based manufacturer of differentiated and specialty chemicals. The company manufactures polyurethanes, performance products, and adhesives for a broad and diverse range of consumer and industrial end markets. The company operates approximately 75 manufacturing, R&D, and operations facilities in around 30 countries and employs approximately 10,000 associates within our four distinct business divisions. The company serves a broad and diverse range of consumers, including transportation, home life, construction, energy and fuels, and clothing and footwear.

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