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Huntsman Corp. recently announced it has signed a definitive agreement to acquire the business of Oxid L.P., a privately held manufacturer and marketer of specialty urethane polyols based in Houston. Oxid’s polyols are reportedly a key component in the production of polyurethane insulation products that are used in residential and commercial construction. The polyols are combined with methylene diphenyl diisocyanate (MDI) to create polyurethane foam insulation for walls, roofs, refrigerators and many other applications.
“Oxid has an excellent reputation in the market, and the addition of its Terol® specialty polyols to our existing MDI product portfolio will strengthen our offer to the key downstream insulation markets in North America and provide new opportunities globally,” said Anthony P. Hankins, president, of Huntsman’s Polyurethanes division.
The transaction is expected to close during the third quarter.