ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Huntsman Completes Sale, Promises More

January 8, 2007 | APPEARED IN VOLUME 85, ISSUE 2

Huntsman Corp. has completed the sale of its European commodity chemicals business to Saudi Basic Industries Corp. (SABIC) for a total of $810 million. Huntsman received $685 million in cash, and SABIC assumed about $126 million in pension liabilities. Huntsman had considered an initial public offering of its commodity chemicals business but decided instead on a series of divestitures. The company now says it generates 80% of its sales from its specialty chemicals product lines. CEO Peter R. Huntsman adds that a sale of its North American polymers and basic chemicals business will come soon. "Having received greater than anticipated interest from potential buyers, we now plan on making an announcement in the next few weeks," he says.

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment