Tue, Sep 23, 2014 11:21
HomeMost Recent NewsLone Star Business BlogContact Us
Advertise with Texas Business
Houston-area firm Buys India Chemical Manufacturer
Houston-area firm Buys India Chemical Manufacturer | hou_txbz, Huntsman Corporation, Laffans Petrochemicals, Peter R. Huntsman, automotive lubricants, personal care products, gas applications, oil and gas, Singapore, polyetheramine,

Laffins Packing Facility.

Texas Business reports:  The Woodlands—Huntsman Corporation completed its acquisition of Indian chemical producer Laffans Petrochemicals Ltd., and has taken ownership of the manufacturer's 60kt ethylene oxide derivatives facility in Ankleshwar, Gujarat.

The purpose-built plant produces specialty intermediates for use in agrochemicals, household and personal care products, oil and gas applications and automotive lubricants and brake fluids. Financial details were not disclosed.

Huntsman Corporation 2010 revenues were $9.2 billion.

In 2010 Laffans had revenues in excess of $50 million. News of the Laffans acquisition follows another recent Asian announcement from Huntsman Performance Products outlining a $70 million investment in a capacity expansion program at its polyetheramine plant in Singapore.

“This acquisition is a continuation of our strategy to build our Asian business,” said Huntsman Corporation chief executive Peter R. Huntsman.  “We look forward to integrating this business and further expanding our Indian business.”

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.