Huntsman sells ethylene business in $2B deal with Indorama
Huntsman Corporation, a Texas based company, will be selling its chemical intermediates and surfactants business to Indorama Ventures. This deal will value at INR 2000 Million and lead to the exit of Hunstman Corp. from ethylene business both globally and in the U.S.
The manufacturing sites that this deal covers are: Port Neches and Dayton in Texas, Chocolate Bayou in Ankleshwar and India and Botany in Australia.
The Port Neches manufacturing site has a steam cracker which produces ethylene and propylene from ethane and propane feedstock. This divestment will thus add one more steam cracker in Indorama’s ethylene business. The addition will increase ethylene production capacity of Indorama by 50% in the USA.