Located in Ankleshwar, India, the Laffans chemicals business manufactures amines and surfactants. It will be integrated into the Performance Products Division and is expected to be immediately accretive to earnings. The acquisition is expected to occur in the first half of 2011.
Daniele Ferrari, president of the Performance Products Division, said: “In addition to the recently announced expansion of our polyetheramine facility in Singapore, the acquisition of this business is strategically important.
“This acquisition will bring total annual Huntsman’s sales in India to approximately $260m or 3% of total sales. The Laffans chemical business is complementary to our existing technology and product offering and introduces exciting potential for additional product development.”
