Last week, readers were most drawn to Huntsman’s acquisition of CVC Thermoset Specialties (Huntsman Expands Specialty Chemicals Portfolio with Acquisition of CVC Thermoset Specialties): “Huntsman Corp. recently announced that it has reached an agreement to acquire CVC Thermoset Specialties, which is part of Emerald Performance Materials LLC (majority owned by affiliates of American Securities LLC). CVC Thermoset Specialties has annual revenues of approximately $115 million, with manufacturing facilities located in Akron, Ohio, and Maple Shade, N.J. Under terms of the agreement, Huntsman will pay $300 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. The transaction is expected to close around mid-year.
“‘The acquisition of CVC Thermoset Specialties brings valuable complementary technology breadth to our Advanced Materials portfolio and its unique products will make systems using our class-leading epoxy-based materials even tougher, stronger, and more durable,’ said Scott Wright, president of Huntsman’s Advanced Materials division. ‘This business manufactures highly specialized toughening, curing and other additives used in a wide range of composite, adhesive and coatings applications across aerospace, automotive and industrial markets.
“‘In addition to strengthening our position in North America, Huntsman will use our existing asset footprint and routes to market in Europe and Asia to rapidly grow and globalize CVC Thermoset Specialties’ exciting and complementary product range. This acquisition will further improve our ability to create differentiation in our customers’ applications, in particular through our strong formulations business.’”
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Top 5 News that Sticks for March 22-28
- Huntsman Expands Specialty Chemicals Portfolio with Acquisition of CVC Thermoset Specialties
- McCarty and Toth Join Shin-Etsu Silicones of America Sales Team
- Sika Expands Waterproofing Membrane Production in Switzerland
- ExxonMobil Evaluating Significant Near-Term Capital and Operating Expense Reductions Due to COVID-19
- Collaboration Between Ontex and Bostik Sends Feminine Care Products to Girls in Zambia
This weekly roundup highlights the adhesives, sealants, and coatings-related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.