Huntsman Clariant Deal Continues to Move Forward: Focused “Second Request” for Additional Information Received from Federal Trade Commission
FOR IMMEDIATE RELEASE
August 15, 2017
The Woodlands, Texas
THE WOODLANDS, Texas – Huntsman Corporation (NYSE: HUN) is pleased to announce progress towards satisfying the regulatory approval condition to closing its merger of equals with Clariant AG (SIX: CLN). The United States Federal Trade Commission, which reviews the antitrust implications of certain business combinations, delivered a second request for information to Huntsman yesterday relating to just two products -- sodium isethionate, used in personal care products like soap and shampoos, and a polyetheramine product used in certain construction and additive/paint and ink applications. Together, these products accounted for less than $20 million of Huntsman’s total revenues in the United States in 2016, and Huntsman is confident that it will be able to satisfy any FTC concerns in advance of the targeted year-end closing date for the merger.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2016 revenues of approximately $10 billion. 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 75 manufacturing, R&D and operations facilities in over 30 countries and employ approximately 10,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at 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, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman’s operations, the ability to implement cost reductions and manufacturing optimization improvements in Huntsman businesses, to consummate or achieve the expected benefits of the proposed transaction with Clariant and to 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.