Huntsman Announces Acquisition of Turkish Polyurethanes Systems House
THE WOODLANDS, Texas, Dec. 30, 2011 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) announced today that it has acquired EMA Kimya Sistemleri Sanayi ve Ticaret A.S., a polyurethanes systems house in Istanbul, Turkey. The EMA systems house has the capacity to manufacture polyester polyols and blend MDI polyurethane systems used primarily in the insulation, automotive, adhesives, coatings, elastomers and furniture industries. 2010 revenues were approximately $17 million.
Commenting on the sale, Anthony P. Hankins, President of the Polyurethanes division, said: "We are pleased with the acquisition of EMA. This acquisition is part of our global strategy to strengthen our presence in key growth markets. In 2010, Turkey's MDI polyurethane systems grew at a rate of 13-15%. We look forward to leveraging this demand and providing a broader product offering to customers in this region."
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2010 revenues of over $9 billion. 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, 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.
SOURCE Huntsman Corporation
Released December 30, 2011