Huntsman has completed the acquisition of Oxid, a
Houston-based manufacturer and marketer of specialty
urethane polyols, for an amount of up to $75 million, company
officials said on Friday.
Oxid generated $86 million of revenue in 2012.
Huntsman says 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) -- in which Huntsman's polyurethanes division is a
leading global producer -- to create polyurethane foam
insulation for walls, roofs, refrigerators and many other
Oxid markets its diverse product line of specialty polyols
under the trademark Terol and distributes products
worldwide from its manufacturing facility in Houston.
"We are very pleased with the acquisition of
Oxid," said Anthony P. Hankins, president of
Huntsman's polyurethanes division.
"In the past 18 months we have strengthened our downstream
capabilities with the acquisition and establishment of new
systems houses in Turkey, Russia and Indonesia; acquired a 20%
stake in Nippon Aqua Co., a Japanese spray polyurethane foam
insulation company; we've commissioned a new, state-of-the-art
MDI splitter and downstream manufacturing unit in Rotterdam,
the Netherlands; and we've invested in the expansion of our worldscale MDI
manufacturing facility in Geismar, Louisiana," he
"These investments reflect our confidence in the long-term
growth prospects for MDI-based urethanes, and the addition of
Oxid's highly experienced team to our polyurethanes business
will significantly strengthen our offer to the key downstream
insulation markets both in North America and globally."