乐天堂fun88(中国区)官方网站 Completes Acquisition of U.S. Polyols Manufacturer, Oxid L.P.
Aug. 29, 2013
THE WOODLANDS, Texas 鈥� 乐天堂fun88(中国区)官方网站 Corporation (NYSE: HUN) announced today that it has completed the acquisition of the business of Oxid L.P., a manufacturer and marketer of specialty urethane polyols in Houston, Texas, for an amount of up to $75 million. Oxid generated $86 million of revenue in 2012.
Oxid鈥檚 polyols are a key component in the production of energy saving polyurethane insulation products that are used in residential and commercial construction. The polyols are combined with methylene diphenyl diisocyanate (MDI) 鈥� in which 乐天堂fun88(中国区)官方网站鈥檚 Polyurethanes division is a leading global producer 鈥� to create polyurethane foam insulation for walls, roofs, refrigerators and many other applications.
Oxid markets its diverse product line of specialty polyols under the trademark Terol庐 and distributes products worldwide from its manufacturing facility in Houston.
Commenting on the sale, Anthony P. Hankins, President of 乐天堂fun88(中国区)官方网站鈥檚 Polyurethanes division, said: 鈥淲e are very pleased with the acquisition of Oxid. In the past 18 months we have strengthened our downstream capabilities with the acquisition and establishment of new systems houses in Turkey, Russia and Indonesia; acquired a 20% stake in Nippon Aqua Co. Ltd., a Japanese spray polyurethane foam insulation company; we鈥檝e commissioned a new, state-of-the-art MDI splitter and downstream manufacturing unit in Rotterdam, the Netherlands; and we鈥檝e invested in the expansion of our worldscale MDI manufacturing facility in Geismar, Louisiana.
鈥淭hese investments reflect our confidence in the long-term growth prospects for MDI-based urethanes and the addition of Oxid鈥檚 highly experienced team to our Polyurethanes business will significantly strengthen our offer to the key downstream insulation markets both in North America and globally.鈥�
Terol庐 is a registered trademark of 乐天堂fun88(中国区)官方网站 International LLC.
About Oxid:
Oxid L.P., with headquarters in Houston, Texas, manufactures specialty chemical products for the rigid urethane industry and has produced its line of Terol庐 polyester polyols since 1981. Its diverse product line of aromatic polyester polyols is available with a wide variety of properties to address the demanding needs of the polyurethane formulator. Oxid distributes products worldwide from its manufacturing facility in Houston. Oxid is committed to providing Quality Products and Service through a Total Quality Management philosophy.聽 Oxid鈥檚 Quality System has been certified under the ISO 9001:2000 Quality Standard since 1996.
About 乐天堂fun88(中国区)官方网站:
乐天堂fun88(中国区)官方网站 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, 乐天堂fun88(中国区)官方网站 has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2012 revenues of over $11 billion. For more information about 乐天堂fun88(中国区)官方网站, please visit the company's website at .
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Forward-Looking Statements:
Statements in this release that are not historical are forward-looking statements. These statements are based on management鈥檚 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鈥檚 operations, markets, products, services, prices and other factors as discussed in the 乐天堂fun88(中国区)官方网站 companies鈥� 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.聽 In addition, the completion of any transactions described in this release is subject to a number of uncertainties and closing will be subject to approvals and other customary conditions. Accordingly, there can be no assurance that such transactions will be completed or that the company鈥檚 expectations will be realized. The company assumes no聽obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
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