The leading specialty chemical company 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.
The deal with CVC Thermoset Specialties brings valuable complementary technology to Huntsman’s Advanced Materials portfolio and the merger will make epoxy-based materials even tougher, stronger, and more durable. CVC Thermoset Specialties has two manufacturing facilities located in Akron, Ohio, and Maple Shade, New Jersey.
The major deals and expansions by Huntsman Corporation are featured below:
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 Huntsman’s 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.
September 2019: Huntsman has acquired the Remaining 50% interest in the Sasol-Huntsman maleic anhydride joint venture from Sasol for $100 million. Germany based facility can produce 230 million pounds annually of maleic anhydride.
September 2019: Huntsman Corporation, has opened a new polyurethanes systems house in Dubai, UAE. The new facility is located within the Jebel Ali Free Trade Zone (JAFZA), the purpose-built facility strengthens Huntsman’s downstream capabilities in the Middle East and North Africa.
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.