Huntsman Corporation has acquired EMA Kimya Sistemleri Sanayi ve Ticaret A.S., a polyurethanes systems house in Istanbul, Turkey.
The EMA systems house has the capacity to manufacture polyester polyols and blend MDI polyurethane systems used primarily in the insulation, automotive, adhesives, coatings, elastomers and furniture industries. 2010 revenues were approximately $17 million.
Commenting on the sale, Anthony P. Hankins, President of the Polyurethanes division, said: "We are pleased with the acquisition of EMA. This acquisition is part of our global strategy to strengthen our presence in key growth markets. In 2010, Turkey's MDI polyurethane systems grew at a rate of 13-15%. We look forward to leveraging this demand and providing a broader product offering to customers in this region."
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2010 revenues of over $9 billion.
Huntsman announces aquisition of Turkish polyurethanes systems house