THE
WOODLANDS, Texas, Feb. 28,
2023 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN)
announced today that it has completed the sale of its Textile
Effects division to Archroma, a portfolio company of SK Capital
Partners. The agreed purchase price was $593
million in cash plus assumed pension liabilities, and
Huntsman expects the net after tax cash proceeds to be
approximately $540 million before
customary post-closing adjustments.
About Huntsman:
Huntsman Corporation is a publicly
traded global manufacturer and marketer of differentiated and
specialty chemicals with 2022 revenues of approximately
$8 billion from our continuing
operations. 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
60 manufacturing, R&D and operations facilities in
approximately 30 countries and employ approximately 7,000
associates within our continuing operations. 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
Forward-Looking Statements:
Certain information in
this release constitutes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. 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 under the
caption "Risk Factors" 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, volatile
global economic conditions, cyclical and volatile product markets,
disruptions in production at manufacturing facilities,
reorganization or restructuring of Huntsman's operations, including
any delay of, or other negative developments affecting the ability
to implement cost reductions, timing of proposed transactions, and
manufacturing optimization improvements in Huntsman businesses and
realize anticipated cost savings, and other 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.
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SOURCE Huntsman Corporation