Huntsman Acquires Stake in Japanese Spray Polyurethane Foam Insulation Company
Huntsman Corp. recently announced that it has acquired a 20% stake in Nippon Aqua Co. Ltd. (Nippon Aqua), a spray polyurethane foam insulation company based in Yokohama, Japan, and that it has entered into a 10-year supply agreement with the company. Nippon Aqua is reportedly the SPF market leader in Japan, with business operations in over 30 locations across the country, and is a subsidiary of leading residential home builder Hinokiya Holdings Co. Ltd. Huntsman supplies various advanced MDI-based polyurethanes systems to Nippon Aqua.
“We are delighted to have the opportunity to invest in Nippon Aqua, which is a pioneer in the Japanese spray polyurethane foam market,” said Anthony P. Hankins, president of the Polyurethanes division. “Following the regrettable accident at the Fukushima Daiichi nuclear plant in 2011, there’s a great focus on how the country will source its energy needs and a growing demand among consumers for more effective insulation. Nippon Aqua is well-positioned to satisfy this demand and we look forward to strengthening our relationship with them to address these important needs.”
For additional information, visit www.huntsman.com.