European Commission Approves Merger With Hexion
July 01 2008 - 9:49AM
PR Newswire (US)
THE WOODLANDS, Texas, July 1 /PRNewswire-FirstCall/ -- Huntsman
Corporation (NYSE:HUN) today announced that the European Commission
has approved the proposed merger between Hexion and Huntsman
contingent on, among other things, divestment of a portion of
Hexion's global specialty epoxy resins business to a purchaser
approved by the European Commission. Peter Huntsman, President and
CEO, stated, "We believe this step ratifies our view that
regulatory approval for our transaction can move forward and repeat
our request that Hexion promptly move to fully comply with the
European Commission's conditions for approval and take any and all
other actions necessary to obtain all required regulatory
approvals, including from the FTC." About Huntsman: Huntsman is a
global manufacturer and marketer of differentiated chemicals. Its
operating companies manufacture products for a variety of global
industries, including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction, technology,
agriculture, health care, detergent, personal care, furniture,
appliances and packaging. Originally known for pioneering
innovations in packaging and, later, for rapid and integrated
growth in petrochemicals, Huntsman today has 13,000 employees and
operates from multiple locations worldwide. The company had 2007
revenues of approximately $10 billion. For more information, please
visit the company's website at http://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. In addition, the completion of any transaction 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. DATASOURCE: Huntsman
Corporation CONTACT: Media, Russ Stolle, +1-281-719-6624, or
Investor Relations, John Heskett, +1-801-584-5768, both of Huntsman
Corporation Web site: http://www.huntsman.com/
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