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Huntsman Corporation announced that it has acquired the remaining ownership of Russian joint venture Huntsman NMG (HNMG), giving it full ownership of the company. The financial terms of the deal were not disclosed.
HNMG is a leading supplier of polyurethane systems to the adhesives, coatings and footwear markets in Russia, Ukraine and Belarus.
Commenting on the deal, Anthony P. Hankins, President of the Polyurethanes division said “The Russian Federation is recognized as an important and fast growing economy, with double digit growth rates predicted for polyurethane products. This investment will give us greater access to the high value coatings, adhesives and elastomers markets through an established, state-of-the-art operations platform that will enhance our ability to provide differentiated solutions for our customers.”
About Huntsman:Huntsman is a global manufacturer and marketer of differentiated chemicals. Our 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 2011 revenues of over $11 billion.
More information: www.huntsman.com