Huntsman to Acquire Morton TPU Business
SALT LAKE CITY, Utah – Peter R. Huntsman, chief executive officer of Huntsman Corp., has announced that the company will acquire the Morton global thermoplastic polyurethane (TPU) business from Rohm and Haas Co., Philadelphia. The Morton TPU business, with approximately 160 employees in Europe, the Americas and Asia, and two main manufacturing sites located in Osnabrueck, Germany, and Ringwood, Ill., will be integrated into Huntsman Polyurethanes as a global strategic business unit.
Huntsman commented, “The acquisition of the Morton global TPU business will be another significant step towards securing our position as the world leader in polyurethane-based systems and specifically in the TPU product area. It is currently one of the leading TPU suppliers and a growing and successful business. Morton will bring four main product areas encompassing aromatics, adhesives, aliphatics and coatings, which have tremendous synergy with Huntsman Polyurethanes’ existing TPU business and the footwear, automotive, and coatings and adhesives business areas.”
TPU is a high-value-added product used in a wide variety of applications. Morton offers an extensive line of highly customized products, with over 230 TPU products sold in 26 industries worldwide.
“We are looking forward to becoming part of the Huntsman organization,” said Hans Schmidt, global business manager of the Morton TPU business. “Given Huntsman’s position in polyurethanes, we are excited about both the synergies and growth opportunities ahead for our business.”