THE WOODLANDS, Texas,
June 23, 2015 /PRNewswire/ --
Huntsman Corporation (NYSE: HUN) announced today that it has
completed the acquisition of Tecnoelastomeri, a manufacturer and
marketer of methylene diphenyl diisocyanate (MDI) based hot-cast
elastomer systems and processing machines, based in Modena,
Italy. 2014 sales revenue for Tecnoelastomeri was
approximately $12 million. The
purchase price was not disclosed.
Hot-cast polyurethanes are used in many downstream applications,
including bumper pads, coated conveyor belts, gears, rollers and
wheels. These applications are used in the automotive, rail,
oil and gas, mining and steel industries among others.
Huntsman has supplied MDI for these applications for many
years.
Tecnoelastomeri markets its diverse product line globally under
a number of well-known trademarks, including Tecnoelastomeri
engineering urethane elastomers, Tecnothane polyurethane systems,
Rithane specialty polyurethane systems, Castech polyurethane
machines and Linthane specialty thermoplastic urethanes (TPUs).
Commenting on the acquisition, Tony
Hankins, President of Huntsman's Polyurethanes division,
said: "We are very pleased with the acquisition of Tecnoelastomeri.
The addition of its highly experienced team to our Polyurethanes
business will significantly strengthen our offer to the growing,
downstream hot-cast elastomer markets globally."
"In the past few years we have strengthened our downstream
capabilities and now have more than 25 facilities worldwide. These
investments reflect our confidence in the long-term growth
prospects for MDI-based urethanes."
About Huntsman:
Huntsman Corporation is a publicly
traded global manufacturer and marketer of differentiated chemicals
with 2014 revenues of approximately $13
billion including the acquisition of Rockwood's performance additives and
TiO2 businesses. 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 100 manufacturing and R&D facilities in more
than 30 countries and employ approximately 16,000 associates within
our 5 distinct business divisions. For more information about
Huntsman, please visit the company's website at
www.huntsman.com.
Social Media:
Twitter: www.twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman
About Tecnoelastomeri
Tecnoelastomeri is a
manufacturer of MDI systems, finished elastomer parts and machines
for processing elastomers – in other words the full range of hot
cast elastomer technology. Headquartered in Modena, Italy, it supplies product and technology
support to customers worldwide. For more information about
Tecnoelastomeri, please visit the company's website at
www.tecnoelastomeri.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. In
addition, the completion of any transactions described in this
release is subject to a number of uncertainties and closing will be
subject to approvals and other customary conditions. Accordingly,
there can be no assurance that such transactions will be completed
or that the company's expectations will be realized. The company
assumes no obligation to provide revisions to any forward-looking
statements should circumstances change, except as otherwise
required by applicable laws.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/huntsman-acquires-polyurethane-elastomer-manufacturer-tecnoelastomeri-300103202.html
SOURCE Huntsman Corporation