Huntsman to acquire Dow's ethyleneamines
7 Feb 2001
Huntsman International, a subsidiary of Huntsman Corporation, has signed an agreement to acquire the Dow Chemical Company's global ethyleneamines business. Terms of the acquisition were not disclosed.
Ethyleneamines are specialty products with applications in lube and fuel additives, epoxy curing agents, agricultural chemicals, fabric softeners, pharmaceuticals, personal-care products and textile additives.
They also are used in the manufacture of polyols and urethane catalysts for polyurethane production. The acquisition also includes Dow's Castmate ceramic processing additive business.
Mr. Huntsman stated, 'This acquisition increases our production capacity to approximately 900 million pounds per year.'
Under the terms of the agreement, Huntsman will acquire Dow's manufacturing plant in Freeport, Texas with a nameplate capacity of 160 million pounds per year and hold a long-term option to purchase 30 millions pounds of ethyleneamines per year from Dow's Terneuzen, Netherlands plant.
Huntsman and Dow expect to close the transaction in the first quarter of 2001, subject to receipt of all required regulatory approvals, including the approvals of the US Federal Trade Commission and the European Commission.
Huntsman-held companies have revenues of approximately $8 billion, more than 14,000 employees and facilities in 43 countries.
