Huntsman Corporation has announced that it 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 coatings, adhesives, and footwear markets in Russia, Ukraine and Belarus.
|Anthony P. Hankins is President of Huntsman’s Polyurethanes division.|
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.”
Huntsman, with its worldwide headquarters in Salt Lake City, UT, is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including paints and coatings, chemicals, plastics, aviation, adhesives, textiles, footwear, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging.