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CAS C&EN ACS Publications ACS Log In Serving The Chemical,Life Sciences & Laboratory Worlds Join ACS Contact Advertise Subscribe About SubmitQuery Advanced Search Search 0 Email 0 Print Name Email Address(Required to comment) Submit Query Home > Volume 85 Issue 8 > Huntsman Divestiture Volume 85 Issue 8 | p. 10 | News of The Week Issue Date: February 19, 2007 Huntsman Divestiture Firm completes exit from commodity chemicals with $761 million sale ofpetrochemicals unit By Alexander H. Tullo Department: Business Huntsman Corp. will complete its exit from commodity chemicals by selling its North American petrochemicals unitto Flint Hills Resources,the chemicals and refining arm of privately held Koch Industries. The transaction, between two family-run companies, is valued atabout $761 million. Flint Hills will get Huntsman's ethylene cracker in Port Arthur, Texas; its ethylene, propylene, polyethylene, and polypropylene complex in Odessa,Texas; an expandable polystyrene plant in Peru, Ill.; and polypropylene plants in Longview, Texas, and Marysville, Mich. Overall, the businesses employ about 900 people. The deal is expected to close in the third quarter, following regulatory approvals and the completion ofrepairs at the Port Arthur cracker, which was damaged by a fire last April. Huntsman will retain its Port Neches, Texas,ethylene cracker,which provides feedstocks for its specialty chemical businesses. Early last year, Huntsman stated its intention to spin off its commodity chemicals business as a separate company and focus on specialty chemicals such as titanium dioxide pigments, epoxy resins, and surfactants. The company ended up selling off the commodities business in pieces, however. It sold its butadiene operation to Texas Petrochemicals in June 2006 for $262 million, and its European petrochemicals unitwentto Saudi Basic Industries Co. in December 2006 for $810 million. Koch has made a string of acquisitions in chemicals in recent years. In 2003, it purchased Farmland Industries' fertilizer unit. In 2004, it boughtDuPont's Invista fibers business and BP's purified isophthalic acid and trimellitic anhydride operations. Chemical & Engineering News ISSN 0009-2347 Copyright © 2015 American Chemical Society Leave A Comment Thank you for your comment. Your initial comment will be reviewed prior to appearing on the site. Viewed Viewed Viewed Viewed Commented Commented Commented Commented Shared Shared Shared Shared Computational Models Of Multistep Reaction Are Called So Flawed They Are ‘Not Even Wrong’ 249th ACS National Meeting Persistence Pays Off In Studying Persistent Organic Pollutants C&EN’s Global Top 50 Chemical Firms For 2014 Denver National Meeting Mania! *Most Viewed in the last 7 days MOST POPULAR MOST POPULAR MOST POPULAR MOST POPULAR Advertisement Info for Advertisers Home Subscribe Help Chemical & Engineering News ACS.org American Chemical Society Home Home Home Home Magazine Magazine Magazine Magazine News News News News Departments Departments Departments Departments Collections Collections Collections Collections Blogs Blogs Blogs Blogs Multimedia Multimedia Multimedia Multimedia Jobs Jobs Jobs Jobs Page 1 of 2 10/03/2015 file:///C:/Users/Vaerx/AppData/Local/Temp/Low/T1YVSAEB.htm

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Page 1: Huntsman Divestiture

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Home > Volume 85 Issue 8 > Huntsman Divestiture

Volume 85 Issue 8 | p. 10 | News of The Week

Issue Date: February 19, 2007

Huntsman DivestitureFirm completes exit from commodity chemicals with $761 million sale of petrochemicals unit

By Alexander H. Tullo

Department: Business

Huntsman Corp. will complete its exit from commodity chemicals by selling its North American petrochemicals unit to Flint Hills

Resources, the chemicals and refining arm of privately held Koch Industries. The transaction, between two family-run

companies, is valued at about $761 million.

Flint Hills will get Huntsman's ethylene cracker in Port Arthur, Texas; its ethylene, propylene, polyethylene, and polypropylene

complex in Odessa, Texas; an expandable polystyrene plant in Peru, Ill.; and polypropylene plants in Longview, Texas, and

Marysville, Mich. Overall, the businesses employ about 900 people.

The deal is expected to close in the third quarter, following regulatory approvals and the completion of repairs at the Port Arthur

cracker, which was damaged by a fire last April.

Huntsman will retain its Port Neches, Texas, ethylene cracker, which provides feedstocks for its specialty chemical businesses.

Early last year, Huntsman stated its intention to spin off its commodity chemicals business as a separate company and focus on

specialty chemicals such as titanium dioxide pigments, epoxy resins, and surfactants. The company ended up selling off the

commodities business in pieces, however. It sold its butadiene operation to Texas Petrochemicals in June 2006 for $262 million,

and its European petrochemicals unit went to Saudi Basic Industries Co. in December 2006 for $810 million.

Koch has made a string of acquisitions in chemicals in recent years. In 2003, it purchased Farmland Industries' fertilizer unit. In

2004, it bought DuPont's Invista fibers business and BP's purified isophthalic acid and trimellitic anhydride operations.

Chemical & Engineering News

ISSN 0009-2347

Copyright © 2015 American Chemical Society

Leave A Comment

Thank you for your comment. Your initial comment will be reviewed prior to appearing

on the site.

ViewedViewedViewedViewed CommentedCommentedCommentedCommented SharedSharedSharedShared

Computational Models Of Multistep Reaction Are Called So Flawed They Are ‘Not Even Wrong’

249th ACS National Meeting

Persistence Pays Off In Studying Persistent Organic Pollutants

C&EN’s Global Top 50 Chemical Firms For 2014

Denver National Meeting Mania!

*Most Viewed in the last 7 days

MOST POPULAR MOST POPULAR MOST POPULAR MOST POPULAR

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