THE WOODLANDS, Texas, Feb. 15, 2023 /PRNewswire/ — Huntsman Company (NYSE: HUN) announced today that it has secured all regulatory approvals needed to comprehensive the sale of its Textile Effects division to Archroma, a portfolio enterprise of SK Money Associates. Each get-togethers hope the transaction to shut on February 28, 2023. The agreed acquire price tag was $593 million in dollars moreover assumed pension liabilities, and Huntsman expects the internet following tax cash proceeds to be around $540 million before customary article-closing adjustments.
Peter Huntsman, Chairman, President, and CEO commented:
“Our teams have been performing diligently due to the fact we signed the purchase settlement last August to get this offer to closing and, when we secured approval from the Indian levels of competition legislation authority very last week, we promptly put the last techniques in location to full the transaction on the 28th February. I want to thank the far more than 2,000 Huntsman associates for their remarkable professionalism and work to get us to this working day. These associates and the Textile Results small business they have so perfectly served, will mix with Archroma to generate the World’s primary textile substances and dyes corporation. I would also like to understand Barry Siadat and his SK management crew for their determination to complete this transaction.”
About Huntsman:
Huntsman Corporation is a publicly traded world-wide producer and marketer of differentiated and specialty substances with 2021 revenues of approximately $8 billion. Our chemical goods selection in the thousands and are bought all over the world to producers serving a broad and assorted vary of consumer and industrial finish marketplaces. We run far more than 70 manufacturing, R&D and functions services in about 30 nations and employ approximately 9,000 associates in our 4 unique business divisions. For extra details about Huntsman, make sure you pay a visit to the firm’s internet site at www.huntsman.com.
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Ahead-Looking Statements:
Particular data in this release constitutes forward-searching statements inside the meaning of Part 27A of the Securities Act of 1933 and Segment 21E of the Securities Trade Act of 1934. These statements are primarily based on management’s latest beliefs and expectations. The ahead-hunting statements in this release are subject matter to uncertainty and improvements in instances and require risks and uncertainties that could have an impact on the firm’s operations, marketplaces, solutions, companies, price ranges and other factors as talked about beneath the caption “Chance Variables” in the Huntsman companies’ filings with the U.S. Securities and Exchange Fee. Considerable dangers and uncertainties might relate to, but are not minimal to, the predicted timing to near the sale of the Textile Results company, volatile global financial disorders, cyclical and risky products marketplaces, disruptions in generation at producing services, reorganization or restructuring of Huntsman’s operations, together with any delay of, or other negative developments affecting the ability to employ price tag reductions, timing of proposed transactions, and producing optimization improvements in Huntsman companies and know expected expense cost savings, and other fiscal, economic, aggressive, environmental, political, legal, regulatory and technological things. The business assumes no obligation to give revisions to any forward-hunting statements must circumstances adjust, besides as in any other case necessary by relevant rules.
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