Huntsman Corp. has signed a definitive agreement to acquire Oxid LP, a privately-held manufacturer and marketer of specialty urethane polyols based in Houston, Texas.
Oxid's polyols are a key component in the production of energy-saving polyurethane insulation products that are used in residential and commercial construction.
The polyols are combined with methylene diphenyl diisocyanate (MDI) to create polyurethane foam insulation for walls, roofs, refrigerators and other applications.
Oxid markets its product line of specialty polyols under the trademark Terol, and it distributes products worldwide from its manufacturing facility in Houston.
The addition of Oxid's MDI product portfolio will support Huntsman's offerings to downstream insulation markets in North America and provide new opportunities globally.
The transaction is expected to close in the 3Q. Oxid generated $86 million of revenue in 2012.