According to recent reports from foreign media, Huntsman intends to shrink the scope of ordinary chemicals business and focus its development on fine chemicals. To this end, the company has reached an agreement with Texas Petrochemical Corporation (TPC) to sell its butadiene plant in the United States for US$275 million, and then use this capital to purchase Ciba's refined textile chemicals business.
It is reported that Huntsman sold 11,000 barrels of methyl tert-butyl ether plant per day in addition to its 900 million pound butadiene production plant in Port Necks, Texas. Sold together. This part of the business that Huntsman sold last year earned $626 million. TPC has been planning to optimize and strengthen its carbon 4 business with an annual revenue of USD 1.7 billion. After this acquisition is completed, this butadiene and methyl tert-butyl ether production plant will be integrated into TPC's existing carbon 4 business.
It is reported that Huntsman has agreed to purchase Ciba Specialty Chemicals' textile chemicals assets and business for US$253 million. It is expected that the transaction will be completed in the third quarter of this year. At that time, Huntsman will further strengthen its capabilities in the field of functional chemicals and create favorable conditions for splitting it into two independent companies for general chemicals and specialty chemicals. Ciba's textile chemical business generated sales of US$1 billion last year, and this part of the business involved specialized chemical plants in eight countries.
Huntsman is preparing to spin off its common chemicals business and establish an independent company with annual sales of more than US$6 billion, mainly including polyethylene, polypropylene, expanded polystyrene, aromatics and Production of 2 million tons of ethylene equipment.
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