Huntsman Acquires Nanocomp Technologies Inc.
Huntsman Acquires Nanocomp Technologies Inc., a New Hampshire-based Company Specialized in Advanced Carbon Materials
The Woodlands, TX – Huntsman Corporation (NYSE:HUN) has announced the successful completion of an agreement to acquire Nanocomp Technologies Inc., a New Hampshire-based company that produces Miralon, an advanced carbon-based material.
The announcement shows Huntsman’s commitment to growing its specialty portfolio and will enable the US- based epoxy-resin and polyurethanes company to further develop composite materials and formulations that produce a number of valuable effects such as radiative heating, electrical conductivity, toughening and corrosion prevention for its customers.
Commenting on the acquisition, Scott Wright, President of Huntsman’s Advanced Materials division, said, “This acquisition shows our intention to grow by adding formulations and technology to our portfolio that will allow us to expand in existing markets and access new markets. We are confident that adding Nanocomp and its Miralon® range to our extensive product offering will bring valuable effects to our customers in the aerospace, automotive and electrical-power industries.”
John Gargasz, CEO Nanocomp further commented, “As a wholly owned subsidiary of Huntsman, Nanocomp will further the development of composite materials and formulations that will create additional commercial growth opportunities going forward. With many industries looking to replace heavier materials with composites for lighter weight and more energy efficiency, our carbon-based advanced materials enable stronger, lighter, environmentally resistant solutions that can solve customers’ problems, even in the harshest conditions.”
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2017 revenues of approximately $8 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 approximately 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.
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, 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.