THE WOODLANDS, Texas,
Sept. 10, 2014 /PRNewswire/ --
Huntsman Corporation (NYSE: HUN) announced today that the European
Commission has approved its previously announced acquisition of the
Performance Additives and Titanium Dioxide (TiO2)
businesses of Rockwood Holdings, Inc. The Commission approval is
subject to the divestiture of Huntsman's business associated with a
product known as TR52 mainly sold into inks applications. This
divestiture represents approximately 30 kilotons of TiO2
with annual EBITDA of approximately $5
million to $10 million and excludes any associated
manufacturing assets.
Huntsman has entered into a definitive agreement to sell its
TR52 business to Henan Billions Chemicals Co., Ltd. Financial
details of this agreement were not disclosed.
The transaction with Rockwood
is expected to close in the coming weeks, pending the European
Commission's approval of the sale of the TR52 business to
Henan.
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