THE WOODLANDS, Texas,
Feb. 28, 2014 /PRNewswire/
-- Huntsman Corporation (NYSE: HUN) today announced that it
expects the European Commission to proceed with an in-depth
investigation (phase II) into Huntsman's proposed acquisition of
Rockwood's Performance Additives
and Titanium Dioxide businesses. The Commission would have up to
125 working days to make a final decision on whether the proposed
transaction would significantly impede effective competition in the
European economic area.
Peter R. Huntsman, President and
CEO of Huntsman Corporation, commented:
"Phase II is not out of the ordinary. We remain actively
engaged with representatives of the European Commission as they
continue their analysis and deliberation over our pending
transaction with Rockwood. We
believe the proposed combination will position us better to serve
our customers and will provide a unique opportunity to unlock value
within our Pigments business. We are working to satisfy the
European Commission as soon as possible."
On December 18, 2013 antitrust
review in the United States was
completed, clearing the proposed acquisition to proceed.
About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer
and marketer of differentiated chemicals with 2013 revenues of over
$11 billion. Our chemical products
number in the thousands and are sold worldwide to manufacturers
serving a broad and diverse range of consumer and industrial end
markets. We operate more than 80 manufacturing and R&D
facilities in 30 countries and employ approximately 12,000
associates within our 5 distinct business divisions. For more
information about Huntsman, please visit the company's website
at www.huntsman.com.
Forward-Looking Statements:
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