Wilmar acquires Huntsman European commodity surfactants business

Wilmar acquires European commodity surfactants business of Huntsman

11:52 AM, 25th June 2014
Huntsman business news

THE WOODLANDS, US/SINGAPORE: Wilmar Europe Holdings BV, wholly-owned subsidiary of Wilmar International Limited, has completed the purchase of Huntsman’s European commodity surfactants business. Financial details of the agreement were not disclosed. Under the agreement, Huntsman has sold to Wilmar its ethoxylation facility in Lavera, France and Wilmar has entered into a multi-year arrangement to purchase certain sulphated surfactant products from Huntsman’s facilities in St Mihiel, France and Castiglione delle Stiviere, Italy.

In October 2013, Huntsman announced plans to improve its annual EBITDA by $20 million by exiting a number of commodity surfactant product lines in Europe and to focus on developing and growing the remaining differentiated surfactants businesses. The closure of the Patrica facility and the implementation of other restructuring activities, including the re-focus on differentiated surfactants following the sale to Wilmar, will result in a smaller, more profitable surfactants business for Huntsman in Europe going forward.

“We are pleased to have completed this sale in line with our original timetable and are very confident that our re-focus on differentiated surfactants will result in a more profitable surfactants business for Huntsman in Europe going forward,” said Stu Monteith, President, Performance Products division, Huntsman Corporation.

 

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