Huntsman Corp. will sell its chemical intermediates and surfactants businesses to Indorama Ventures for $2 billion in a move that will effectively see the Texas-based company exiting the ethylene business both in the U.S. and globally.
Following the collapse of a deal to merge with Huntsman Corp. in October, Swiss chemical company Clariant AG has announced new plans to update its strategy and set "concrete set of measures" to create value, including mergers and acquisitions.
Clariant International Ltd. and Huntsman Corp. jointly announced Oct. 27 they have mutually terminated the proposed "merger of equals" announced in May. The decision was unanimously approved by the boards of directors of Clariant and Huntsman, based in The Woodlands, Texas.
Huntsman Corp. plans to start production of Tecnoelastomeri machinery in the United States, Steve Burns, vice president Americas, of Huntsman's polyurethane division, said on the side lines of the CPI meeting on Oct. 4.