Huntsman Corporation History
1998/6 Huntsman Announces Expansion and Upgrade of ethanolamine Unit
2002/6 Huntsman Restructures Debt
2002/9 Huntsman completes financial restructuring
2003/4 Huntsman to build world's largest LDPE plant in the UK.
2003/5 Huntsman Buys Out Minority Interests In Huntsman International Holdings
2004/9 Huntsman announces go-ahead for 400,000t/y LDPE plant at Wilton
2005/7 HUNTSMAN SELLS TDI BUSINESS TO BASF
2005/9 Huntsman to Build Polyetheramine Manufacturing Facility in Singapore
2005/10 Huntsman Breaks Ground For New £200 Million Polyethylene Project At Wilton
2006/2 Bidders in talks to buy Huntsman
Huntsman Ends Discussions On Company's Sale
2006/2 チバ・スペシャルティ・ケミカルズ、テキスタイル機能材ビジネスの売却でハンツマン社と合意
2006/2 Huntsman Selects Geismar as Site for Maleic Anhydride Expansion
2006/8 Huntsman Announces Major Pigments Production Increase
2006/8 US chemical giant Huntsman to boost China investment
2006/9 Huntsman to Sell European Commodities Business to SABIC
2006/11 Arabian Amines Company 着工
2007/2 Huntsman and NMG Announce Polyurethanes JV in Russia and Former Soviet States
Huntsman to Sell U.S. Commodities Business to Flint Hills Resources
2007/4 Huntsman Scales Up Process to Convert a Biodiesel By-product to Propylene Glycol
2007/5 Huntsman to Open New Polyetheramines Plant in Singapore
2007/6 Hunstman to take majority control of JV with BCI
2007/6 Huntsman eyes Clariant, Ciba takeovers
Basell to acquire Huntsman for $25.25 per share
2007/7 Huntsman to Acquire textile dyes and intermediates manufacturer based in India
Huntsman Receives Merger Proposal From Hexion
Hexion Increases Offer for Huntsman Corporation to $28.00 Per Share
Huntsman says enters alliance for Texas biodiesel plant
Huntsman Acquires Global Fluorochemical Product Line for Nonwovens from DuPont
2007/8 Huntsman sells U.S. Polymers Business to Flint Hills Resources
2007/11 Huntsman and Flint Hills Resources Close On Sale of Base Chemicals Business
2008/2 Huntsman Commences Design and Feasibility Studies to Expand its Global MDI Manufacturing Capacity
2008/4 Huntsman Joint Venture To Pursue Major Maleic Anhydride Expansion In Germany
2008/6 Hexion files suit alleging that transaction with Huntsman is no longer viable
Huntsman Sues Apollo and Its Top Executives Over Hexion Deal
2008/7 European Commission Approves Merger With Hexion
2008/8 Huntsman Shareholders Offer Capital On Merger Closing
2008/9 Huntsman All But Wins Fight
Huntsman Obtains Temporary Restraining Order Against Credit Suisse and Deutsche Bank
2008/10 Huntsman Obtains Solvency Opinion for Hexion Merger
Hexion gets additional funding commitments
Hexion and Huntsman to complete pending merger; Banks refuse to fund
2008/12 Huntsman terminates merger agreement and settles with Hexion and Apollo for $1 billion.
2009/1 Judge dismisses Huntsman suit
2009/2 Huntsman Suspends Work on Planned MDI Plant in Europe
Huntsman JV Completes Project Financing for Maleic Anhydride Expansion
2009/3 Huntsman to expand MDI facilities in Shanghai
2009/6 Huntsman Reaches Settlement with Banks for $1.73 Billion of Cash and Financing
2009/10 2010 And 2011 Will Be More Difficult Than 2009: Peter Huntsman
2009/12 Zamil, Huntsman plan Jubail JV
2010/1 Huntsman Announces Chinese Polyols Joint Venture with Jurong Ningwu Chemical Company
2010/5 Huntsman to Expand its Polyetheramine Manufacturing Capacity in Singapore
2010/7 Huntsman to Purchase Chemicals
Business of Laffans Petrochemicals Ltd.of India
2012/4
Huntsman to expand
Texas ethylene oxide plant
2012/11 Huntsman and Sinopec Form Joint Venture to Build and Operate PO/MTBE Facility in Nanjing, China
2013/3 Huntsman、日本の断熱材企業に出資
| Jon
Meade Huntsman, Jr. (born March 26, 1960 in
Palo Alto, California) is the
governor of the state of Utah, having won the office in
the 2004 election. He was elected with 57% of the vote
over Democrat Scott Matheson Jr.. His term as the 16th governor of Utah began on January 3, 2005. Huntsman is the son of billionaire businessman and philanthropist Jon Huntsman of Huntsman Corporation. |
| Realigning
portfolio to differentiated businesses 2006/9 http://library.corporate-ir.net/library/18/186/186725/items/212896/CSFBConf0906.pdf
2006/6/27 completed sales of U.S. Butadiene
/ MTBE for $262 million to TPC ↓
|
2003/5/9 Huntsman
Huntsman Buys Out Minority Interests
In Huntsman International Holdings
http://www.huntsman.com/ShowPage.cfm?PageID=1159&News_ID=855
Jon M. Huntsman, Founder and Chairman, and Peter R Huntsman, President and CEO, of the Huntsman companies today announced the purchase of ICI's debt and equity holdings in Huntsman International Holdings LLC (HIH), and the additional purchase of two financial institutions' minority interest in HIH.
(Note: Huntsman International was formed when Huntsman purchased a majority stake in ICI’s industrial chemical business)
With the buyouts, HMP Equity Holdings Corporation (HMP), which is controlled by the Huntsman family, now owns 100% of all principal Huntsman business entities.
(Note: HMP Equity Holdings：51% owned by the Huntsman family and 49% owned by New York private equity firm MatlinPatterson )
Platts 2002/9/30
Huntsman completes financial restructuring
Huntsman Corp reported Monday the completion of its financial restructuring.
Huntsman Corporation http://www.huntsman.com/
Huntsman Corporation is the
world's largest privately held chemical company. Its operating
companies manufacture basic products for a variety of global
industries including chemicals, plastics, automotive, footwear,
paints and coatings, construction, high-tech, agriculture, health
care, textiles, detergent, personal care, furniture, appliances
and packaging.
Businesses:
Huntsman's six major businesses manufacture and market over 33 billion pounds of product each year.
Performance Chemicals
Petrochemicals
Polymers
Polyurethanes
Surface Sciences
Tioxide
Petrochemicals
Huntsman's worldwide petrochemicals operations are made up of three major regional businesses in the Americas, Europe and Asia Pacific.
ＵＳＡ
Odessa, Texas
Polypropylene
Polyethylene
The REXellｮ Linear Low Density PolyethyleneThe High Pressure Low Density
Port Arthur, Texas
Huntsman Corporation's Jefferson County Operations (JCO) employs 1400 associates.
JCO has four main sites: Oxides & Olefins , C4, PO/MTBE Plant, all in Port Neches; and Aromatics & Olefins in Port Arthur.
The A&O Plant in Port Arthur covers a land area of 229 acres and employs approximately 250 associates. Three major products are made here: ethylene, propylene, and cyclohexane.Port Neches, Texas
The C4 Plant in Port Neches covers a land area of 585 acres and employs approximately 250 associates. Two major products here are butadiene and MTBE (methyl tertiary butyl ether.) The plants have a capacity to produce 750 million pounds per year of butadiene and 3.8 barrels per year of MTBE.
The Oxides & Olefins Plant in Port Neches cover a land area of 2400 acres and employs approximately 450 associates. A wide variety of products are made here: ethylene, propylene, ethylene oxide, ethylene glycol, propylene glycol, ethanolamines, surfactants, morpholine, diglycolamine, and other smaller by-products.
Alongside the O&O plant is the PO/MTBE plant. The PO/MTBE Plant covers a land area of 195 acres and employs approximately 150 associates. The plant can produce 400 million pounds of propylene oxide and 2.2 billion pounds of MTBE per year.
Europe
Huntsman European Petrochemicals is a major manufacturer of bulk commodity chemicals. These provide the key raw materials for a vast range of end products, which are essential for today's modern lifestyles.
Our production facilities comprise:・the Olefins business, manufacturing ethylene, propylene and butadiene on the world-scale Olefins 'Cracker' plant at the Wilton International Site. From here, we also store and distribute products and feedstocks via ship and cross-country pipelines.
・the Aromatics business, manufacturing benzene, ethyl benzene, xylenes, cyclohexane and cumene at our North Tees Site and Paraxylene at Wilton International.
・at North Tees, we also manufacture brine, operate ethylene liquefaction facilities and store feedstocks
and products for distribution by road and ship.
These manufacturing operations are highly integrated and closely linked in terms of both feedstocks and finished products.Huntsman European Petrochemicals came into existence on 1 July 1999 when the business was purchased by Huntsman Corporation from ICI as part of a major acquisition which also included the Polyurethanes and Tioxide global operations.
Virtually all of the European Petrochemicals manufacturing operations are based at two large chemical complexes on Teesside, UK - Wilton and North Tees sites.
ANZ
Huntsman Chemical Company Australia (HCCA) Pty Limited's origins go back to 1928 and the founding of the Monsanto Southern Cross Chemical Company.
Huntsman Chemical Company Australia manufactures and distributes a diverse range of plastics and chemicals -Styrene Monomer
Polystyrene
EPS
Polyester Resins
Gelcoats
Phenol, Acetone and Cumene Hydroperoxide
Phenolic Resins
Phenolic Laminating Resins
Other Petrochemicals
Chemical Week 2002/6/25
Huntsman Restructures Debt; Family
to Cede 49.9% Stake
By Robert Westervelt
Huntsman Corp. has agreed to a financial restructuring with its largest bondholder that includes the exchange of most of its outstanding bond debt for a 49.9% stake in the Huntsman family’s chemical holdings.
Huntsman International, formed when Huntsman purchased a majority stake in ICI’s industrial chemical business, has performed relatively well under a separate financing facility and continued to make bond interest payments.
April 16, 2003 Financial
Times
Huntsman to build world's largest LDPE plant in the UK.
Huntsman is to build a 375,000-400,000 tonnes/y, EUR 200 M - EUR 220 M, low density polyethylene (LDPE) plant in Wilton, Teeside, UK, which would be the largest in the world.
Huntsman makes 800,000-900,000 tonnes/y of ethylene on the site and currently stores it cryogenically for export. The new plant will save the cost of cryogenic storage（低温保管） of 400,000 tonnes/y of ethylene by replacing it with PE storage and transport.
Petrochemical News 19 JULY
2004 (Vol. 42, No. 29)
Huntsman Mulling Construction Of Wilton, U.K., LDPE Facility 参考
http://www.petrochemical-news.com/P-V42N29.pdf
Kurt Dowd, vice president of
finance and investor relations for Huntsman, told PCN that
Huntsman's board is expected to make a decision by the end of
this year on building a 400,000-t/y LDPE plant at the Wilton
complex.
Huntsman acquired
the Wilton cracker from BP and ICI in 1999. At that time, the cracker was reported
to have about 1.9-billion
lbs/yr of ethylene and 880-million lbs/yr of propylene capacity.
Huntsman announces go-ahead for
world's largest LDPE plant
Huntsman has finalized its decision to build a 400,000 mt/yr low
density polyethylene plant at Wilton, UK. The GBP200-mil ($355-mil)
plant will mark Huntsman's entry into the European polyethylene
market.
The company expects to begin construction in 2005, with the plant
being operational in the third quarter of 2007, subject to
technology licensing.
January 21, 2005 BUSINESS WIRE
ExxonMobil Chemical Announces a Licensing Agreement for the World's Largest LDPE Tubular Reactor
ExxonMobil Chemical Technology Licensing, LLC announces it has signed an agreement with Huntsman Petrochemical (UK) Limited to license ExxonMobil's tubular process technology for Huntsman's new world-scale low density polyethylene (LDPE) plant. The 400 kilotonnes-per-year (kta) plant, to be built in Teesside, England, will be the world's largest LDPE reactor. Work is expected to start on the new facility in January 2005 with completion expected in late 2007.
Huntsman to Proceed With
Construction of World's Largest Polyethylene Plant
http://www.huntsman.com/index.cfm?PageID=816&News_ID=1239&style=8
Huntsman President and Chief
Executive Officer Peter R. Huntsman today announced the go-ahead
for plans to build the world’s largest low density polyethylene (LDPE)
manufacturing facility, on Teesside in the UK. The announcement
was also made simultaneously in London by UK Secretary of State
for Trade and Industry, Patricia Hewitt, MP
The 400,000 tonnes per year plant, Huntsman’s first venture into the growing European
polyethylene market, will be built at the Wilton International
site at a cost of around £200
million. The company anticipates the main plant will cost
approximately £180 million
with a further £20 million
covering logistics and infrastructure.
Huntsman Breaks Ground
For New £200 Million Polyethylene Project
At Wilton
http://www.huntsman.com/index.cfm?PageID=5549&News_ID=1411&style=4544
Huntsman Corporation
President and Chief Executive Officer Peter R Huntsman today
(Thursday, 6 October) launched the start of construction of the
world’s largest Polyethylene facility at
the Wilton International chemical complex near Redcar.
Piling and ground preparation work will start on site shortly and
construction of the 400,000 tonnes a year polyethylene
facility will
be spread over two years, with completion due in the fourth
quarter of 2007.
US Huntsman to break
ground for Singapore polyetheramines plant ポリエーテルアミン
Huntsman of the US
is scheduled to launch construction of a new polyetheramines
plant in Singapore on Nov 30, a company source said Tuesday.
下記参照
Huntsman to Build
Polyetheramine Manufacturing Facility in Singapore
http://www.huntsman.com/index.cfm?PageID=1159&News_ID=1390&style=40
Peter R. Huntsman,
President and CEO of Huntsman Corporation today announced the
company plans to build a world scale polyetheramine manufacturing
facility in Jurong Island, Singapore.
The company expects the facility, which will have an annual
capacity of approximately 30 million pounds, to be operational in the first
quarter of 2007.
“We
currently have polyetheramine production facilities in Conroe, Texas and
Llanelli, Wales.
Completion of the Singapore plant will increase our capacity by
approximately 25% and give us a truly global platform for the
manufacture and marketing of this specialty product.”
Key polyetheramines
applications include epoxy coatings, concrete additives, organic
pigments, fuel and lube additives, and herbicides and pesticides.
20 May 2010
Huntsman to Expand its JEFFAMINE(R) Polyetheramine Manufacturing Capacity in Singapore
The Performance Products division of Huntsman Corporation announced today that it will expand manufacturing capacity of its JEFFAMINE(R) polyetheramine manufacturing facility located on Jurong Island, Singapore. The planned expansion is anticipated to occur by the end of the third quarter of this year and will increase existing capacity by more than 50%.
Daniele Ferrari, President of Performance Products said, “We have been extremely pleased with this Singapore investment and the ongoing support provided to us by our customers and the Singapore authorities. It is very gratifying to have this opportunity to invest further in the Jurong Island facility.”
“This facility, which began operations in 2007, has been a critical strategic manufacturing platform in meeting the regional demands for JEFFAMINE polyetheramines in Asia over the past three years. Rapidly growing regional demand necessitates this additional investment to meet the markets’ increasing requirements,” said Steve Stilliard, Vice President, Performance Products - Asia Pacific.
British Plastics
& Rubber 2006/2/1
Bidders in talks to buy Huntsman
The giant American chemicals company Huntsman Corporation is in
takeover talks.
Reports from the USA have linked Huntsman, which went public last year but is still owned substantially by its founder Jon Huntsman, with interest from a number of private equity firms. Apollo Management, which has just bought Tyco's plastics and adhesives business, has been tipped as a leading bidder with a price of in excess of $4・3 billion in discussion.
Huntsman Ends Discussions
On Company's Sale
http://www.huntsman.com/index.cfm?PageID=5549&News_ID=1473&style=4544
Huntsman Corporation
announced today that it has terminated discussions regarding
existing proposals to acquire the Company.
After careful review of the proposals received, the Company’s prospects and other strategic
initiatives available, as well as thorough discussions with the
parties, the Board of Directors of the Company and its special
committee have concluded that none of the proposals were in the
best interests of the shareholders.
2006/2/24 Texas
Petrochemicals
Texas
Petrochemicals, Inc. Announces Intent to Purchase Assets of
Huntsman Corporation’s U.S. Butadiene Business
http://www.txpetrochem.com/ci/pdf/tpcnews/TPC-PurchaseofHuntsmanCorpAssets.pdf
Texas Petrochemicals,
Inc. (the “Company”) today announced that Texas
Petrochemicals LP
has signed a letter of intent to purchase the assets of the
United States butadiene and related MTBE operations of Huntsman
Corporation, which includes a manufacturing facility located in
Port Neches, Texas, for a purchase price of $275 million, subject
to customary adjustments. The transaction is expected to close in
mid-2006.
The Port Neches
manufacturing facility has a capacity of approximately 900
million pounds of butadiene per year. The addition of these
assets creates a business with more than $1.7 billion in revenues
on a pro forma basis based on calendar year 2005
results.
2006/2/24 Huntsman
Huntsman To Sell U.S. Butadiene Business
http://www.huntsman.com/index.cfm?PageID=1159&News_ID=1481&style=40Huntsman has owned the business since its 1994 acquisition of Texaco Chemical Company. The manufacturing facility has a capacity of approximately 900 million pounds of butadiene per year and approximately 11,000 barrels per day of MTBE. The business has about 240 employees. The business had 2005 revenues of approximately $626 million and EBITDA of approximately $43 million.
Huntsman, Texas Petrochemicals Enter Into Definitive Agreement On Butadiene Business
http://www.huntsman.com/index.cfm?PageID=5549&News_ID=1490&style=4544Huntsman Corporation announced today that it has entered into a definitive agreement to sell the assets comprising its U.S. butadiene and MTBE business to Texas Petrochemicals, L.P. for a sales price of $269 million, subject to customary adjustments. The companies expect to close the transaction in May.
The companies had signed a letter of intent regarding the sale in February.
Texas Petrochemicals LP http://www.txpetrochem.com/ci/ci.htm ↑
Texas Petrochemicals LP
(TPC) specializes in C4 hydrocarbons. The company's integrated
manufacturing facility focuses on production and marketing within
four main business units: C4 Olefins, Specialty Chemicals,
Fuel Products and Polyisobutylene. TPC maintains its leadership in
the industry with an innovative ability to bring high-quality
products to the marketplace. Among the diverse product lines
available to TPC customers are Butadiene, Butene-1, Isobutylene
and Isobutylene derivatives.
Texas
Petrochemicals LP (TPC) became a significant C4 producer with the
acquisition of its Houston C4 chemical processing site in 1984.
In 1996, after 12 successful years of growth and safe operations,
the company's employees, management and a group of investors
acquired the company. Under the new employee ownership, TPC has
moved forward to become the world's best-known processor and
supplier for high-quality C4 chemical products and derivatives.
2003/7/21 Texas Petrochemicals
Texas Petrochemicals LP and Affiliates File Chapter 11 Petitions to Facilitate Financial Restructuring
http://www.txpetrochem.com/ci/pdf/tpcnews/03-07-21.pdfTexas Petrochemicals LP (TPLP), and its affiliates Texas Petrochemical Holdings, Inc. (TPH), Petrochemical Partnership Holdings, Inc, TPC Holding Corp, and Texas Butylene Chemical Corporation, announced today that to facilitate a financial restructuring, they have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas.
TPLP owns and operates petrochemical manufacturing facilities in Houston, Texas and operates product terminals in Baytown, Texas and Lake Charles, Louisiana.
The Chapter 11 filings were necessitated primarily by the drastic and likely permanent reduction in MTBE demand, arising from regulatory changes, and by recent higher raw material and energy costs.We expect TPLP to emerge from the reorganization with a significantly improved financial structure that will position TPLP for long-term success in our core butadiene, specialty chemicals and gasoline alkylate businesses, while phasing out our on-purpose MTBE production."
Platts 2006/6/15
Texas Petrochemicals announces Baytown, Texas, expansion plan
Texas Petrochemicals LP announced Thursday the start of an expansion project at its Baytown, Texas, facility, which will expand the company's product portfolio to include nonene and propylene tetramer.
The expansion project, which is scheduled for completion in the first quarter of 2007, will include construction of a twin reactor, propylene derivatives plant that will produce nonene and propylene tetramer, as well as polymer gasoline and propane, the company said.ノネン プロピレンの3重合体
Platts 2007/7/27
Texas Petrochemicals leaving MTBE market by year's end: source
Texas Petrochemicals (TPC) will step out of the merchant MTBE market by the end of this year, a source familiar with the operations told Platts Friday.
TPC is one of the largest producers of MTBE in the US.
US' Texas Petrochemicals to double its polyisobutylene capacity
Texas Petrochemicals Inc (TPC), a petrochemical company specializing in products derived from C4 and C3 hydrocarbons, confirmed Monday its plans to more than double its current production of polyisobutylene (PIB) by mid 2008 with the addition of a new manufacturing facility in Houston, Texas.
2006/2/27 Huntsman
Huntsman Selects Geismar as Site for Maleic Anhydride Expansion
http://www.huntsman.com/index.cfm?PageID=5549&News_ID=1482&style=4544
Peter R. Huntsman,
President and CEO of Huntsman Corporation, today announced the
selection of Huntsman's Geismar, Louisiana site as the location
for the Company's previously announced new 100 million pound
world scale maleic anhydride facility. The Company will
commence detailed engineering and reactor procurement
immediately. Huntsman has chosen a fast track implementation
model that will enable the plant to startup in the 3rd quarter of
2008.
Huntsman is a leading global producer of maleic anhydride and
currently has the annual capacity to produce 240 million pounds
at its Pensacola, Florida facility. Huntsman also owns a 50% interest in a joint
venture in Moers, Germany that currently
has an annual capacity of 125 million pounds.
* CONDEA-HUNTSMAN is a 50:50 joint venture of RWE-DEA Aktiengesellschaft fur Mineraloel
und Chemie of Hamburg, Germany, and Huntsman Corporation of Salt
Lake City, U.S.A. RWE-DEA conducts its global chemical business
under the CONDEA brand name.
RWE Dea AG
http://www.rwe.com/generator.aspx/rwe-dea/unternehmen/language=en/id=226960/unternehmen.htm
RWE Dea AG is one of the
leading petroleum companies in Germany, with a special focus on
activities relating to the exploration and production of crude
oil and natural gas. This is a field in which RWE Dea enjoys more
than 100 years of experience, cutting-edge drilling and
production technologies, as well as a broad reservoir of
know-how.
In Germany, the company's activities focus on the exploration and
production of natural gas, development of the Mittelplate
offshore field in the North Sea tidelands and the operation of
large underground natural gas storage facilities. Increasingly,
the company's international upstream activities, first and
foremost in Norway and Egypt, as well as in Dubai, Denmark,
Poland and Kazakhstan, are being pursued with growing commitment
in collaboration with competent partners.
RWE occupies top rankings in its core businesses, electricity,
gas, water & wastewater, waste disposal & recycling.
Huntsman Announces Major Pigments Production Increase 着色料 二酸化チタン
Huntsman Corporation
today announced plans for a 50,000 MTE expansion of its flagship titanium dioxide
manufacturing facility at Greatham, U.K., bringing the facility’s annual capacity to 150,000 MTE.
The expansion will be based upon Huntsman’s proprietary ICON chloride
technology and is the second significant project at the Greatham
site since Huntsman acquired the TiO2
business in 1999.
The company expects the new capacity to be operational in the
second half of 2007 and fully completed in early 2008.
2008/8/24
AsiaPulse via COMTEX
US chemical giant Huntsman to boost China investment
US chemical giant Huntsman Corp will step up its investment in
China in order to tap into strong domestic demand in the world's
largest market for textile effects chemicals.
Peter Huntsman, the company's president and chief executive
officer, made the remarks at yesterday's inauguration of Huntsman
Textile Effects (China), in Guangzhou, southern China's Guangdong
Province.
The new firm was the result of Huntsman's acquisition of the
global textile effects business of Ciba Specialty Chemicals
Holding Inc
for US$253 million, which was completed last month.
New York-listed Huntsman has so far invested US$1 billion in
China, including the acquisition of Ciba's China-based textile
effects operations.
Huntsman also has a one-third share in a US$1 billion Shanghai chemical plant that mainly produces polyurethane.
The project, which also has investment from BASF and Chinese
partners, will become operational today, supplying the
shoemaking, automobile and electrical appliance industries.
2007/2/1 Huntsman
Huntsman and NMG Announce Polyurethanes Joint Venture in Russia
and Former Soviet States
ZAO HUNTSMAN-NMG TARGETS HIGH GROWTH MARKETS
Huntsman Corporation and NMG today announced the creation of a
new, Russia-based joint venture, ZAO Huntsman - NMG, to manufacture and sell polyurethane
systems to
the adhesives, coatings, elastomers and insulation markets in Russia and other
areas in the former Soviet Union. The financial terms were not
disclosed.
Huntsman NMG will be based at NMG’s existing headquarters in
Obninsk, close to Moscow, and will be managed by a General
Director Sergey Ovcharov. The company employs over 200 employees,
and has state of the art manufacturing and distribution
facilities in Obninsk and a network of branch offices across the
region, including in Belarus and the Ukraine.
NMG was founded in 1992 and has grown to be one of the leading
polyurethanes companies in the former Soviet Union supplying a
wide range of industries including construction, footwear and
insulation with specialised polyurethanes systems optimized to
meet specific user needs. Through its far reaching network of
branch offices, NMG aims to provide it’s customers with the highest level
of innovation and service.
Huntsman to Sell U.S.
Commodities Business to Flint Hills Resources
Sale Will Complete Final Step in Transformation to Differentiated
Portfolio
Peter R. Huntsman, President and CEO of Huntsman Corporation, today announced that Huntsman has signed definitive documents with Flint Hills Resources, LLC, a wholly owned subsidiary of Koch Industries, Inc., for Flint Hills Resources to acquire Huntsman's U.S. Base Chemicals and Polymers business.
Huntsman is expected to realize a total value from the sale of approximately $761 million. Under the agreement, Flint Hills Resources will acquire the manufacturing assets of Huntsman's U.S. commodities business for $456 million in cash plus the value of inventory ($286 million at Dec. 31, 2006) on the date of closing. Huntsman will retain other elements of working capital, including accounts receivables, accounts payable and certain accrued liabilities (net, $19 million at Dec. 31, 2006), which will be liquidated for cash immediately following the closing.
The transaction includes Huntsman's olefins and polymers manufacturing assets located at five U.S. sites: Port Arthur, Odessa and Longview, Texas; Peru, Illinois; and Marysville, Michigan. The business employs about 900 associates. The captive ethylene unit at the retained Port Neches, Texas, site of Huntsman's Performance Products division is not included in the sale. This asset, along with a long-term post-closing arrangement for the supply of ethylene and propylene from Flint Hills to Huntsman, will continue to provide feedstock for Huntsman's downstream derivative units.
About Flint Hills Resources:
Flint Hills Resources is a leading producer of fuels, base oils for lubricants, and other petrochemical products, based in Wichita, Kan. It owns refineries in Alaska, Minnesota and Texas, a chemical intermediates plant near Joliet, Ill., pipelines, and an interest in Excel Paralubes in Westlake, La. The company produces pseudocumene at its Corpus Christi, Texas, facility, as well as other building-block chemicals such as metaxylene, orthoxylene, paraxylene, benzene, cumene and toluene. In Illinois, the company produces maleic anhydride, trimellitic anhydride and purified isophthalic acid.
Flint Hills Resources became an independent, wholly owned subsidiary of Koch Industries, Inc., in January, 2002 in order to focus on growth opportunities. This proposed acquisition is a direct result of that business mandate, and adds to assets acquired in 2003 and 2004.
Flint Hills Resources
- Refining Business - Flint Hills Resources operates refining complexes in Alaska (North Pole), Minnesota (Pine Bend) and Texas (Corpus Christi) with a combined crude oil processing capacity of about 800,000 barrels of crude oil per day. These facilities are served by strategically located terminals and pipelines, some of which are operated by Koch Pipeline Company, L.P.
- Canadian Businesses - Flint Hills Resources' interests in Canada include Calgary-based crude oil marketing, transportation and storage activities. These businesses are primarily focused on providing a supply of Canadian crude oil to the Pine Bend Refinery.
- Chemicals - Flint Hills Resources is a leading producer of petrochemicals and related products, with primary manufacturing facilities at the Corpus Christi refining complex.
The company produces chemical intermediates -- used in the manufacture of items such as polyester resins and automotive, agricultural and consumer products -- from its plant near Joliet, Ill.Corpus Christi, Texas, the petrochemicals facility produces about 4 billion pounds of building-block chemicals - such as paraxylene, orthoxylene, mixed xylene, benzene, cumene, toluene and pseudocumene - annually.
Joliet, Ill., facility, near Chicago, manufactures chemical intermediates, including purified isophthalic acid, maleic anhydride and trimellitic anhydride.
- Base Oils - Flint Hills Resources markets Group II base oils - the primary feedstock in motor oil - from the Excel Paralubes facility in Westlake, La.
- Crude Oil - Supply for the refineries is secured through crude oil purchasing offices located in Calgary and Houston.
- Fuels Marketing - The company markets a full slate of petroleum products - gasoline, jet fuel, diesel, heating oil and others - including value-added fuels such as cleaner-burning gasolines and performance diesel fuels.
Huntsman Scales Up
Process to Convert a Biodiesel By-product to Propylene Glycol
Company Continues
Sustainable Chemistry Initiative
Huntsman
Corporation today announced a further step in its plan to
commercialize a process for manufacturing propylene glycol
from a renewable raw material, and will make it available for
customer trials as early as next month.
The production of biodiesel from
vegetable and seed oils creates the by-product glycerin, which then can be used to
manufacture propylene glycol for the global market’s four-and-a-half billion pound
annual demand for the material. Propylene glycol is used to
de-ice commercial aircraft prior to take-off, and in the
manufacture of construction materials, among other end uses.
Cargill to Lead Commercialization of Renewable Propylene Glycol from Glycerin
Cargill is leading efforts to commercialize a proprietary process for using glycerin -- an abundant, low cost co-product of biodiesel production -- as feedstock for a platform of biobased products, beginning with renewable propylene glycol (PG). Through a new company being formed, the venture will provide commercially competitive PG from renewable feedstocks manufactured in multiple geographies.
Biodiesel Magazine December 2006
Cargill makes plans for glycerin supply
Cargill, an experienced agricultural company but a relatively new biodiesel producer with a 37 MMgy(million gallons per year) plant in Iowa Falls, Iowa, announced plans to form a new company that will make a variety of bio-based products from glycerin, a by-product of transesterification. The name of the future company wasn't available at press time.
Cargill plans to commercialize a proprietary process that turns glycerin into propylene glycol (C3H8O2), a sweet, colorless, viscous, hygroscopic liquid used as an antifreeze, in brake fluid, and as a humectant in cosmetics and personal care items.
参考 Solvay、Dow、バイオディーゼル副生グリセリンを原料とするエピクロの生産
Glycerin C3H5(OH)3
Epichlorohydrin C3H5CLO
Propylene Glycol C3H8O2
Huntsman Poised to Open
New Polyetheramines Plant in Third Quarter
New Plant to Meet Growing Demand
for JEFFAMINE® Product Line
Huntsman Corporation today announced mechanical completion of its first Asia Pacific polyetheramines plant. With this announcement, Huntsman expects to introduce feedstock to the plant in mid-June and be in commercial operation by the third quarter.
Huntsman and its engineering contractor, Jacobs Engineering, achieved mechanical completion of the 15,000 tonnes per annum JEFFAMINE® polyetheramines plant, after an 800,000 man-hour construction process, without a single lost time incident. Huntsman’s total investment in the project, located at Jurong Island, Singapore, is approximately US$40 million.
Hunstman to take majority
control of JV with BCI
Huntsman Corp and Basic Chemicals Industries Limited (BCI) have
signed an agreement that will see Huntsman take over majority
ownership of Arabian Polyol Company (APC), a joint venture between Huntsman
and BCI, the companies announced Thursday. Majority control of
the company was previously held by BCI.
The joint venture, which manufactures and sells MDI-based
polyurethane systems in the Gulf countries, will assume a new
name, Huntsman APC and will be based at a previously
existing facility in Damman, Saudi Arabia. Financial terms of the
transaction have not yet been disclosed.
Tamimi Group
http://www.altamimi.com/about.asp
The extraordinary development of Saudi Arabia to a modern nation from a desert kingdom in five decades is unrivaled. Throughout this period, in all areas of activity and at all levels, The Tamimi Group of Companies rose to the challenge to work in concert with foreign and local partners. Today the results of these efforts are everywhere in evidence - in commerce, in services, in industry, in manufacturing, in both the public and private sectors.
Basic chemical Industries
Tamimi Group has sizable shareholdings in Basic chemical Industries. BCI is a pioneer in private sector chemical manufacturing industry with an extensive stock of commodity and specialty chemicals.BCI located in Dammam, Saudi-Arabia, is a producer and distributor of more than 600 chemical products in the inorganic and specialties segments (hydrochloric acid, adhesives, polyurethanes, water treatment, resins etc.). The Group has 400 employees and an annual turnover of $ 150 million. BCI was established in 1975 as a manufacturer of commodities and specialties chemicals for local Saudi and export markets.
Arabian Polyol Company (APC)
APC is a BCI subsidiary and a joint venture with Huntsman Corporation.
Commissioned in 1985, APC was the Kingdom‘s first manufacturer of polyurethane chemicals offering products for different levels of density including rigid, semi-rigid and soft foams.
Huntsman eyes Clariant,
Ciba takeovers
U.S. chemicals group Huntsman Corp. is keen on buying Swiss peers
Clariant
and Ciba,
the head of Huntsman was quoted as saying, reinforcing the view
either group may be taken over.
But Huntsman said he would not make a hostile offer.
"First, Clariant or single divisions must officially be for
sale," Huntsman told the newspaper.
Ciba last year sold its Textile Effects unit to Huntsman for some 330 million Swiss francs
($266.1 million).
Huntsman to Acquire Baroda Division of Metrochem Industries
Huntsman Corporation today announced that its Textiles Effects business has signed an agreement to acquire the Baroda division of Metrochem Industries Ltd for $46.5 million in cash. The division to be acquired by Huntsman is a textile dyes and intermediates manufacturer based in Baroda, India. The transaction, which is subject to regulatory approvals, is expected to close in January 2008.
Huntsman Receives Merger Proposal From Hexion For $27.25 per Share in Cash
Huntsman Corporation announced today that it has received from Hexion Specialty Chemicals, Inc. ("Hexion"), an entity owned by an affiliate of Apollo Management, L.P., a proposal (the "Hexion Proposal") to acquire all of the outstanding common stock of Huntsman for $27.25 per share in cash.
Hexion Increases Offer for Huntsman Corporation to $28.00 Per Share
Hexion Specialty Chemicals Inc., an Apollo Management L.P. portfolio company, today announced that it has increased its definitive proposal to acquire Huntsman Corporation to $28.00 per share, in cash (transaction value $10.5 billion including debt), and has presented this proposal to the Huntsman Board of Directors and its Transaction Committee (comprised of independent Huntsman directors). The Huntsman Transaction Committee and the Board had previously determined that Hexion's proposal to acquire Huntsman for $27.25 per share, in cash constituted a Superior Proposal under the terms of the current merger agreement between Huntsman and Basell AF. Hexion's proposal is otherwise subject to the terms previously disclosed by Hexion and Huntsman. Until Huntsman's Board or Transaction Committee takes further action pursuant to the terms of the Basell agreement, it continues to recommend the transaction with Basell to its shareholders.
There can be no assurance that a transaction between Hexion and Huntsman will be agreed. Any such transaction would be subject to regulatory approvals and the affirmative vote of Huntsman's shareholders, as well as other customary conditions. Hexion's proposal is fully financed pursuant to commitments from affiliates of Credit Suisse and Deutsche Bank.
Hexion confirms to buy Huntsman in 10.6 bln usd deal
Hexion Specialty Chemicals Inc, an Apollo Management LP portfolio company, said it has signed a definitive agreement to buy rival chemical company Huntsman Corp for 28.00 usd per share cash, or 10.6 bln usd, including 4 bln usd debt.
Huntsman Agrees to Be Acquired By Hexion for $28.00 Per Share
Terminates Merger Agreement With BasellHuntsman Corporation today announced that it has terminated the merger agreement with Basell AF ("Basell") dated June 26, 2007 (the "Basell Agreement") and has agreed to a definitive merger agreement (the "Hexion Agreement") with Hexion Specialty Chemicals, Inc. ("Hexion"), an Apollo Management, L.P. ("Apollo") portfolio company, pursuant to which Hexion will acquire Huntsman in a transaction with a total value of approximately $10.6 billion, including the assumption of debt (the "Hexion Transaction").
Huntsman's Board of Directors authorized the delivery of a notice of termination of the Basell Agreement, along with the payment of the $200 million break-up fee required by the Basell Agreement. Hexion funded $100 million of the Basell break-up fee while Huntsman funded the remaining $100 million.
2007/7/11 Basell
Basell reconfirms its offer for Huntsman
Basell, the global leader in polyolefins, confirmed that it will stand by its $25.25 a share offer for Huntsman Corporation (NYSE: HUN).
On June 26, 2007, Basell and Huntsman signed a merger agreement which valued Huntsman at a full and fair price, and offered certainty and the ability to close rapidly. The majority shareholders of Huntsman signed a voting agreement with Basell in support of the merger agreement.
Basell has since been notified by Huntsman that an offer by Hexion Specialty Chemicals Inc. is “superior” to Basell’s existing merger agreement. Under the terms of Basell’s agreement, Basell will be entitled to a $200 million payment if Huntsman terminates the Basell merger agreement to accept the Hexion offer.
Basell understands that the Hexion offer faces a lengthy and complex regulatory approval process and that closing the Hexion transaction will require many months and is subject to uncertainty. Basell will monitor the situation.
Hexion Specialty Chemicals, Inc. To Acquire Huntsman Corporation For $28.00 Per Share In Cash
Hexion Specialty Chemicals, Inc., an Apollo Management L.P. portfolio company, announced today the signing of a definitive agreement to acquire Huntsman Corporation in an all-cash transaction valued at approximately $10.6 billion, including the assumption of debt.
Joshua J. Harris, founding partner with Apollo Management L.P., said: "This acquisition will build Hexion into one of the world's largest specialty chemical companies. The combined enterprise will have annual sales of more than $14 billion and more than 21,000 associates and 180 facilities around the world. We are pleased to welcome the Huntsman team and look forward to building on their many accomplishments in the industry."
Platts 2007/7/19
Huntsman says enters alliance for Texas biodiesel plant
Huntsman said Thursday it entered an agreement with RBF Port
Neches for the construction of a biodiesel plant to be located at
an existing Huntsman facility in Port Neches, Texas.
Under the agreement, RBF will design, finance, build and own the
new plant, which is to have an initial capacity of 89 million
gal/year of biodiesel, with plans to expand to nearly 180 million
gal/year of production, Huntsman said in a statement. The
chemical giant would operate and maintain the plant, which is
expected to come online in mid-2008. RBF would then be
responsible for the marketing of the output of the plant.
Huntsman Acquires Global Fluorochemical Product Line for Nonwovens from DuPont
Huntsman Corporation today announced that its Textiles Effects business has signed an agreement to acquire DuPont's global fluorochemical business for the nonwovens industry. The DuPont(TM) Zonyl(R) fluorochemical product line is used on nonwovens as effective repellents for water, alcohol and oil based fluids. Nonwoven textiles are primarily used in medical, filtration, automotive and construction applications.
Following a brief transition period to ensure a smooth handover and uninterrupted supply, Huntsman will assume responsibility for all future activities related to the business. The transaction with DuPont includes a long-term supply agreement for finished products and intermediates, but does not include the transfer of DuPont employees or the sale of DuPont manufacturing assets. The parties also entered into a joint development agreement to bring new innovations to the nonwovens marketplace.
Aug 01, 2007 Huntsman Huntsman to Sell U.S. Commodities Business to Flint Hills Resources
Huntsman And Flint Hills
Resources Close On Sale Of U.S. Polymers Business
Sale of Port Arthur Base Chemicals Business to Close upon Plant
Restart
Peter R. Huntsman, President and CEO of Huntsman Corporation,
today announced that Huntsman and Flint Hills Resources, LP, an
independent, wholly owned subsidiary of Koch Industries,
Inc., have
closed on the sale of Huntsman’s U.S. Polymers business. The parties will close on the
sale of Huntsman’s remaining U.S. Base Chemicals
business
upon the restart of Huntsman’s Port Arthur, Texas, olefins
manufacturing facility, commissioning of which is expected to
occur later this year.
Included in the closing announced today are Huntsman’s manufacturing assets located at
four U.S. sites: Odessa and Longview, Texas; Peru,
Illinois; and Marysville, Michigan. Huntsman’s amorphous polyalphaolefin (or
APAO) products, which Flint Hills will manufacture for Huntsman
at the Odessa site under a long-term supply arrangement, are not
included in the sale.
Platts 2007/8/29
Huntsman to restart Port Arthur in October, complete sale to FHR
Huntman's Port Arthur, TX olefins plant was due to come back online in early October, a company source reported Wednesday. With the restart, the ownership of Huntsman's base chemical business would be transferred to Flint Hills Resources.
The 1.36-billion lb/yr plant had been down since late April 2006 following an explosion at the site. The acquisition by Flint Hills had been subject to the plant being declared operational.
Huntsman and Flint Hills
Resources Close On Sale of Base Chemicals Business
Sale Completed Upon Port Arthur Plant Restart
Peter R. Huntsman, President and CEO of Huntsman Corporation (NYSE: HUN), today announced that Huntsman and Flint Hills Resources, LP, an independent, wholly owned subsidiary of Koch Industries, Inc., have closed on the sale of Huntsman’s Base Chemicals business.
The sale of the Base Chemicals business is the second closing in a two-part transaction valued in total at approximately $770 million. The parties had previously closed on the sale of Huntsman’s U.S. Polymers business in August.
2008/2/25 Huntsman
Huntsman Commences Design and Feasibility Studies to Expand its
Global MDI Manufacturing Capacity
2008/1/25
Hexion and Huntsman agree to FTC request to extend review time for proposed merger to May 3, 2008.
Huntsman Corporation
announced today that it has commenced design and feasibility
studies to increase its global capacity for the manufacture of
methylene diphenyl diisocyanate (MDI) through investment in a
new, world scale MDI plant at its site in Rozenburg, the
Netherlands.
Feasibility studies, including preliminary engineering for the
new unit, are now underway and a final investment decision is
expected during 2008, with the new 400,000 metric
tons capacity
unit coming on-stream by mid-2011. The final plan may also
incorporate the closure of older, less efficient capacity in
Europe.
Pursuant to the studies, Huntsman also intends to expand its MDI
and downstream asset capacity in all three major regions through
the deployment of new proprietary technologies in aniline,
methylene dianiline (MDA) and MDI production, which will both
increase raw material yields and improve energy efficiency by up
to 40%, as compared with previous generation technology.
2008/4/1 Huntsman HuntsmanのサウジInternational Diol Company 計画（Maleic Anhydride技術供与）
Huntsman Joint Venture To Pursue Major Maleic Anhydride Expansion In Germany
Sasol-Huntsman GmbH & Co. KG, a 50/50 joint venture between affiliates of Huntsman Corporation and Sasol Limited located in Moers, Germany, today announced plans to pursue the expansion of its maleic anhydride manufacturing capacity by 45,000 mt. The new capacity, which is expected to be on-line in first quarter 2011, will increase Sasol-Huntsman´s production capacity by 75%, to 105,000 mt. The expansion will be funded by the joint venture’s internal cash flow and its non-recourse financing.
The new plant’s design is similar to Huntsman’s 45 kt plant under construction in Geismar (USA), which is expected to be operational in late 2008.
Hexion files suit
alleging that transaction with Huntsman is no longer viable
Combined Company Determined to be Insolvent
Hexion Specialty Chemicals, Inc. (“Hexion”) announced today that it and
related entities have filed suit in the Delaware Court of
Chancery to declare its contractual rights with respect to its
$10.6 billion merger agreement with Huntsman Corporation (“Huntsman”). Hexion said in the suit that it
believes that the capital structure agreed to by Huntsman and
Hexion for the combined company is no longer viable because of
Huntsman’s increased net debt
and its lower than expected earnings. While both companies
individually are solvent, Hexion believes that consummating the
merger on the basis of the capital structure agreed to with
Huntsman would render the combined company insolvent.
2008/6/19 Huntsman
Huntsman Rejects Apollo Attempt to Back Out of Merger Agreement
Huntsman Corporation today commented on yesterday’s lawsuit by Hexion Specialty Chemicals and Apollo in which they claim they would not be required to consummate the Merger Agreement.
Peter Huntsman, President and CEO stated, “We believe Hexion and Apollo’s actions are inconsistent with the terms of the Merger Agreement and the obligations to Huntsman and its shareholders. These actions appear to be a blatant attempt to deprive our shareholders of the benefits of the Merger Agreement that was agreed to nearly a year ago.”
Huntsman intends to vigorously enforce all of its rights under the Merger Agreement and seek to consummate the merger on the agreed terms.
Huntsman Sues Apollo and Its Top Executives Over Hexion Deal
The gloves are off in the Huntsman-Hexion Specialty Chemicals dispute.
In an expected move, Huntsman on Monday sued its now-reluctant acquirer’s parent, Apollo Management, and two of the private equity firm’s founders, accusing them of tortiously interfering in the $10.6 billion merger of the two chemical makers. The lawsuit, filed in Texas state court, is the latest salvo in one of the few deals remaining from the buyout boom of last year.
Huntsman is claiming that in besting a rival offer from Basell, an industrial conglomerate, Apollo made a promise it did not intend to keep. The Texas-based chemical maker argued that the private equity firm is seeking to renegotiate a lower price.
In its complaint, Huntsman said that it is seeking $3 billion in damages and $100 million to cover its breakup fee payable to Basell. Huntsman is also seeking unspecified damages related to its business and its value.
European Commission Approves Merger With Hexion
Huntsman Corporation today announced that the European Commission has approved the proposed merger between Hexion and Huntsman contingent on, among other things, divestment of a portion of Hexion’s global specialty epoxy resins business to a purchaser approved by the European Commission.
Peter Huntsman, President and CEO, stated, “We believe this step ratifies our view that regulatory approval for our transaction can move forward and repeat our request that Hexion promptly move to fully comply with the European Commission’s conditions for approval and take any and all other actions necessary to obtain all required regulatory approvals, including from the FTC.”
Huntsman Shareholders Offer Capital On Merger Closing
Huntsman Corporation
announced that it received notice of an independent shareholder
initiative to invest at least $500 million in
Hexion on the closing of the merger between Hexion and Huntsman
Corporation. The Huntsman family has indicated
its expectation to join the shareholder initiative by providing a
portion of the $500 million.
As previously
stated, Huntsman’s shareholders are entitled to
their $28 per share and 8% ticking fee.
We are gratified by
the confidence in the merged company expressed in this
shareholder initiative. However, Huntsman management
firmly believes that the combination of Hexion and Huntsman
Corporation will be solvent.
A trial on whether Hexion can abandon its proposed acquisition is scheduled to begin in Delaware Sept. 8.
In an effort seemingly aimed at prodding Hexion to drop its objection to completing the merger before the trial begins, Huntsman investors that included Citadel Investment Group, D.E. Shaw & Co., Matlin Patterson Global Advisors and Pentwater Growth Capital Management proposed loaning the Ohio-based chemical maker at least $500 million to help it finance the acquisition.
And if some conditions are met, the loan wouldn't have to be repaid.
"This financing serves the dual purpose of enhancing what we believe is your already reasonable rate of return and facilitating a mutually beneficial resolution of the current disagreement between you and Huntsman," the investors wrote in a proposal letter filed Thursday with the U.S. Securities and Exchange Commission.
Those investors indicated they would commit $245 million and that the Huntsman family was expected to commit $186 million. Another $69 million would come from other large stockholders, according to the proposal.nyt 2008/8/28
In a letter sent to Hexion and Apollo on Thursday, the shareholders - including Citadel Investment Management and D. E. Shaw - offered to provide additional financing to help persuade Apollo to close the deal.
The plan involves the use of contingent value rights, financial instruments that would guarantee repayment only if a combined Huntsman-Hexion met certain financial performance targets. If the new company failed to meet those expectations, the investor group would not be repaid.
Though the investors’ said that they are making the offer independently of Huntsman, the group said that trusts for the eponymous Huntsman family have agreed to contribute about $186 million of the proposed financing.
Driving the investors’ proposal is the severe slide in Huntsman’s stock price since June, when the deal began to founder. Huntsman’s shares have fallen more than 41 percent over the last three months, closing Thursday at $13.10.
Other members of the investor group include the private equity firm MatlinPatterson, which helped prod Huntsman to sell itself last year, and the hedge fund Pentwater Capital.
In a statement issued late Thursday, Hexion said that it is interested only in terminating the deal.
2008/8/28 Hexion
Hexion comments on proposal by Huntsman shareholders
Hexion Specialty Chemicals, Inc. today issued the following statement in response to a Report on Schedule 13D filed by several shareholders of Huntsman Corporation with the Securities and Exchange Commission, in which they propose an alternative transaction for the combination of Hexion and Huntsman.
“While we appreciate the efforts of these shareholders, due to the dramatic increase in Huntsman’s net debt and decrease in its earnings since last July, their proposal does not come close to making the combined company solvent. Huntsman’s shareholders lack this information because Huntsman has, despite our repeated requests for more than two months, refused to permit its shareholders to review our Delaware complaint and the Duff & Phelps solvency analysis. If this information were made public, Huntsman shareholders would understand that this proposal is inadequate. Furthermore, the proposal is for incremental, not alternative debt financing, as specified under the merger agreement.
We are not seeking to renegotiate this transaction. We are seeking to terminate it, and obtain judicial confirmation that Hexion has no obligation to pursue the acquisition or to pay Huntsman a termination fee.”
Huntsman Obtains Temporary Restraining Order Against Credit Suisse and Deutsche Bank : Court Orders Banks to Not Impair or Terminate Merger Financing Prior to a Full Hearing
This afternoon, District Judge Fred Edwards of the Montgomery County Texas District Court awarded a Temporary Restraining Order in favor of Huntsman. Judge Edwards found that irreparable harm would result if the Banks were not immediately enjoined from terminating their financing commitment pending a full hearing on Huntsman's request for a temporary injunction. Accordingly, Judge Edwards ordered that the Banks, among other things, must not take any action that could reasonably be expected to materially impair, delay, terminate, or prevent consummation of the financing contemplated by the agreement between the Banks and Hexion.
Huntsman All But Wins
Fight
Hexion may have billionaire Leon Black, but Huntsman has the law
on its side.
On Tuesday, shares of chemical maker Huntsman soared 71.7%, or
$5.27, to $12.62, in late-afternoon trading, after the Delaware
Court of Chancery in Wilmington rejected Black's Apollo
Management and its unit Hexion Specialty Chemicals' attempt to
pull out of its $10.6 billion deal to acquire Huntsman.
In his ruling, Judge Stephen Lamb said if the deal did not close
by Oct. 1, the termination date for the merger would be extended
until the court determined that Apollo and Hexion had complied
with the order.
That's not to say Hexion has to close the deal. The judge said if
the company refuses to close, it would be liable to Huntsman for
damages not capped by the $325.0 million break-up fee.
Huntsman said that in addition to denying the relief sought by
Apollo and Hexion, the court also found that Hexion had breached
a number of obligations and covenants under the merger agreement.
Huntsman said it continued to seek damages exceeding $3.0 billion
in its Texas lawsuit against Apollo and its partners Leon Black
and Joshua Harris.
2008/10/24
Huntsman
Huntsman Obtains Solvency Opinion for Hexion Merger : Independent
Valuation Firm Concludes Hexion-Huntsman Combination Would be
Solvent
Huntsman Corporation announced it has received a written opinion
from
American Appraisal,
a leading valuation firm, which has concluded that the company to
be formed from the pending merger of Hexion Specialty Chemicals,
Inc. and Huntsman Corporation would be solvent. Specifically,
American Appraisal found that the combined Hexion-Huntsman
company would satisfy all of the solvency tests
commonly used in transactions of this nature.
About American Appraisal
American Appraisal is a leading valuation and related services
firm that provides expertise in all classifications of tangible
and intangible assets. It is comprised of more than 900
employees, operating from major financial cities throughout
Asia-Pacific, Europe, North and South America. American Appraisal’s opinion was provided solely for
the use and benefit of Huntsman in connection with the pending
merger with Hexion, is subject to various assumptions,
limitations and qualifications, does not constitute advice or a
recommendation to any person with respect to the pending merger
with Hexion or any other matter and may not be relied upon by any
other person.
2008/10/27 Hexion
Hexion Specialty Chemicals announces additional funding
commitments to support merger with Huntsman Corporation
Apollo Increases Cash Equity Investment to $750 Million
Additional Commitment from Certain Huntsman Stockholders
Increases Commitment to $677 Million
Hexion Specialty Chemicals, Inc. announced that it continues to
proceed expeditiously to close its merger with Huntsman
Corporation. Hexion has been informed that certain stockholders
of Huntsman agreed to make an additional cash commitment to
Huntsman of approximately $217 million, conditioned upon closing
of the merger. Together with the other commitments announced by
Huntsman on September 11, 2008 or received by Huntsman subsequent
to that date, the additional commitment announced today raises the total amount of
committed payments from Huntsman stockholders to approximately
$677 million.
In addition, investment funds managed by affiliates of Apollo
Management, L.P. have agreed to make an additional cash equity
investment of $210 million in Hexion. Together with the $540
million cash equity investment announced by Hexion on October 9,
2008, investment funds managed by affiliates of Apollo
Management, L.P. have now agreed to make an aggregate cash
equity investment of $750 million in Hexion. The new cash equity investment is
not required by any contractual obligation of Hexion or Apollo.
The cash equity investment is conditioned upon closing of the
merger and the funding of the Huntsman stockholder commitments
noted above.
2008/10/28
Hexion AP記事
Hexion and Huntsman
prepared to complete pending merger;
Credit Suisse and Deutsche Bank refuse to fund today
Hexion Specialty Chemicals, Inc. announced today that late last
night Hexion received correspondence from counsel to affiliates
of Credit Suisse and Deutsche Bank stating that the banks do not
believe that the solvency opinion of American Appraisal
Associates and the solvency certificate of Huntsman Corporation’s Chief Financial Officer meet the
condition of the commitment letter, and stated that as a result
the banks do not plan to fund the proposed closing of the merger
scheduled for this morning. Accordingly, Hexion does not
expect the merger to close today.
Hexion strongly disagrees with the banks’
position and has
advised them of their obligation to fulfill the financing
commitment for the merger. While Hexion intends to meet and work
with the banks today to try to complete the merger, if the banks do
not fund their commitment, Hexion will vigorously enforce all of
its contractual rights.
2008/10/28 Huntsman
Huntsman Receives Notice That Banks Unwilling To Close Merger
Today
Huntsman Corporation announced today that Hexion Specialty
Chemicals, Inc. informed Huntsman late last night that Hexion had
received correspondence from counsel to Credit Suisse and
Deutsche Bank that the banks do not believe that the solvency
opinion and certificate proposed to be provided meet the
condition of the commitment letter and effectively said that as a
result the banks do not plan to fund the proposed closing of the
merger scheduled for this morning. Accordingly, Huntsman does not
expect the merger to close today.
Hexion further informed Huntsman that it is working to resolve
the banks’ concerns and is still seeking to
close the merger.
Huntsman
will continue to enforce its rights under the Merger Agreement
and various court orders and will seek to consummate the merger
promptly.
Huntsman terminates
merger agreement and settles with Hexion and Apollo for $1
billion.
Huntsman continues multi-billion dollar Texas lawsuit against
Credit Suisse and Deutsche Bank
Huntsman Corporation today announced it has terminated its Merger Agreement with Hexion Specialty Chemicals, Inc. ("Hexion"). In addition, Huntsman announced that it reached an agreement with Hexion, Apollo Management, L.P. ("Apollo") and certain of its affiliates to settle Huntsman's claims against Hexion, Apollo and its affiliates arising in connection with Huntsman's Merger Agreement with Hexion. Payments to be made to Huntsman under the Settlement Agreement total $1 billion.
The settlement with Hexion, Apollo and its affiliates does not resolve the claims asserted by Huntsman against the Banks in its ongoing litigation against the Banks in Montgomery County, Texas. Huntsman's suit against the Banks includes claims that the banks conspired with Apollo and tortiously interfered with Huntsman's prior merger agreement with Basell, as well as with the later Merger Agreement with Hexion. A jury trial on those claims currently is set to begin on May 11, 2009. As part of the Settlement Agreement, Apollo and its principals have agreed to fully cooperate in connection with Huntsman's litigation against the Banks.
Huntsman Suspends Work on Planned MDI Plant in Europe - Project to resume upon improvement in global demand
Huntsman Corporation today announced it has suspended work on design and feasibility studies for its planned investment in a new methylene diphenyl diisocyanate (MDI) plant at its site in Rozenburg, the Netherlands, because existing production capacity is adequate to meet current demand for MDI-based polyurethanes following the downturn in global economic growth.
The design and feasibility studies, which include preliminary engineering for the planned 400,000 metric tons capacity unit, will be halted at a stage to allow quick and efficient re-engagement at a future date. Until such time, all third party work on the project will be suspended.
Geismar
- Started production in 1966. Current annual saleable output is approximately 1.1 billion lbs (500 ktonnes), including 860 million lbs (390 ktonnes) of MDI, 160 million lbs (68 ktonnes) of polyols, and 60 million lbs (27 ktonnes) of aniline sales.
- A major expansion was completed in Q1 2000 to meet the growing worldwide demand for MDI (methyl diphenyl diisocyanate) and to retain leadership in the market. This expansion increased the output of polymeric MDI and of high-quality pure MDI, and enhanced the Geismar plant's position as the world's largest producer of these materials.
- The polyols plant, commissioned in 1991, produces flexible and rigid specialty polyols and polyol system formulations.
- The world's leading producer of aniline (40 percent of US capacity), a key ingredient in MDI manufacturing. Annual aniline capacity is 880 million lbs (400 ktonnes).
Rozenburg, the Netherlands
MDI, Polyol and Formulations production started in 1971; Flexibles in 1974 and Variants in 1976.
Current MDI production is 300 Ktpa; and Polyols 54 ktpa.
March 14, 2005
Huntsman to Significantly Expand Its Global MDI Manufacturing Capacity
Huntsman Corporation announced today that it will significantly increase its global capacity for the manufacture of methylene diphenyl diisocyanate (MDI).
The initiative involves expansions at the company's two major MDI manufacturing facilities located in Geismar, Louisiana and Rozenburg, Netherlands. The capacity of the Geismar plant will be expanded by 130 million pounds per year to 990 million pounds per year, while the capacity of the Rozenburg plant will be expanded by 220 million pounds per year to 880 million pounds per year. The capacity expansions will be completed in increments beginning in the first quarter of 2005, with final completion expected by late 2006.
February 26, 2008 Huntsman
Huntsman to raise MDI production capacity at Rozenburg site
Huntsman Corporation announced that it has commenced design and feasibility studies to increase its global capacity for the manufacture of methylene diphenyl diisocyanate (MDI) through investment in a new, world scale MDI plant at its site in Rozenburg, the Netherlands.
Feasibility studies, including preliminary engineering for the new unit, are now underway and a final investment decision is expected during 2008, with the new 400,000 metric tons capacity unit coming on-stream by mid-2011. The final plan may also incorporate the closure of older, less efficient capacity in Europe.Pursuant to the studies, Huntsman also intends to expand its MDI and downstream asset capacity in all three major regions through the deployment of new proprietary technologies in aniline, methylene dianiline (MDA) and MDI production, which will both increase raw material yields and improve energy efficiency by up to 40%, as compared with previous generation technology.
Huntsman announced in early 2006 that it was evaluating the construction of a second MDI unit in China, with its partners from the existing 240,000 metric tons capacity joint venture MDI plant in Caojing, Shanghai. Studies for this new plant continue, with a number of different locations being considered.
"These investments are required to satisfy the sustained demand growth that we're seeing across a wide range of MDI based applications , said Polyurethanes Division President, Tony Hankins.
We anticipate that during the next decade the global MDI market will continue to grow well ahead of global GDP, at around 7-8 % per year - and in Asia well above 10%.
We are determined to maintain our leading position in MDI, and to ensure that we can continue to support our global customers as their markets grow."
2009/2/11 Huntsman
Huntsman JV Completes Project Financing for Maleic Anhydride
Expansion - New unit necessary to meet projected global demand
Huntsman Corporation today announced that Sasol-Huntsman GmbH & Co. KG, its maleic anhydride production
joint venture with Sasol Limited, has successfully completed
negotiation of project financing agreements. The project
financing is non-recourse to the joint venture’s parent companies and will add no
debt to Huntsman’s balance sheet.
The new financing will be used to expand the joint venture’s maleic anhydride production site
in Moers, Germany, from its existing yearly capacity of 60,000 tonnes to a
new capacity of 105,000 tonnes by addition of a second world
scale reactor. Like the existing reactor, the new unit will use
Huntsman’s proprietary technology and
catalyst.
The new reactor and other major equipment is already on order,
detailed engineering is under way, and the EPCM contract has been
awarded. Basic engineering and site preparation were completed
early last year. Start-up of the new unit is scheduled for the
first quarter of 2011.
The addition of the second reactor at the Moers site, along with
the planned April 2009 start-up of Huntsman’s wholly-owned 45,000 tonne maleic anhydride
plant in Geismar, Louisiana, will increase Huntsman’s total global maleic anhydride
capacity (including its joint venture) from its current capacity
of 139,000 tonnes to a new capacity of 207,000 tonnes per year.
Huntsman Vice President Tom Fisher stated, “Maleic anhydride is a strategic
growth product for Huntsman. We continue to expand our worldwide
presence in this important product, both through joint ventures -
as we are doing with Sasol in Germany - and in our wholly-owned
plants in North America - as we are doing by adding our new site
in Geismar to complement our existing production in Pensacola. We
are committed to meeting the needs of our global customers.”
Huntsman is the
world’s largest producer of maleic
anhydride and a leading licensor of technology for its
production. Huntsman is also a worldwide supplier of catalyst
required in the production of maleic anhydride.
Huntsman is a leading global producer of maleic anhydride and currently has the annual capacity to produce 240 million pounds at its Pensacola, Florida facility.
既存 増設後 Pensacola, Florida 109千トン → 109千トン Geismar, Louisiana 45千トン Sasol-Huntsman
30千トン
(60千トン）→
53千トン
(105千トン）合計 139千トン → 207千トン
他に HuntsmanのサウジInternational Diol Company 計画（Maleic Anhydride技術供与）
Huntsman to expand MDI facilities in Shanghai
Huntsman plans to expand its MDI facilities in Shanghai Chemical Industrial Park. According to the announcement of ERM (Environment Resource Management) Shanghai, who is in charge of the environmental assessment of this expansion project, the current 240kt/a crude MDI facility will be expanded to 480kt/a and the current 160kt/a pure MDI facility will be expanded to 400kt/a. The feasibility study of this project has already been started.
The project covers 60,000 m² and is totally invested with about 500million US dollars and is scheduled to be completed within 36 months.
ハンツマンは米国ルイジアナ州GeismarとオランダのRozenburg にMDI 工場を持ち、上海ではBASF 等とのJVでイソシアネートコンプレックスを運営している。
上海では合計240千トンの粗MDIを生産、BASFとハンツマンは別々にこれを精製している。
なお、上海コンプレックスのメンバーは中国での第二基地の建設を検討、能力はワールドスケールの40万トンで、2010年頃の完成を目指し、いくつかの場所を評価しているとした。
しかし、本年1月にBASFは単独で重慶ケミカルパークでのMDI計画の環境承認を取得した。
ニトロベンゼン400千トン、アニリン300千トン、粗MDI 400千トンと精製設備、MDI pre-polymer 20千トン、貯蔵設備、ユーティ を建設する。ハンツマンは今回の発表の中で、中国での第二MDI プラント建設の戦略的オプション（いくつかの異なるオプション）の内部での検討は続けるとしている。
Huntsman Reaches Settlement with Banks for $1.73 Billion of Cash and Financing
Huntsman Corporation today announced it has reached agreement with Credit Suisse and Deutsche Bank (the “Banks”) to settle Huntsman’s claims and end the ongoing trial against them in Texas state court for fraud and tortious interference in connection with Huntsman’s terminated merger agreements with Basell and Hexion Specialty Chemicals, Inc.
Under the terms of the settlement agreement, the Banks are providing the following to Huntsman today:
Huntsman Signs "Stalking Horse" Asset Purchase Agreement with Tronox
Huntsman Corporation today announced that it signed a "stalking horse" asset and equity purchase agreement pursuant to which its wholly-owned subsidiary Huntsman Pigments LLC has agreed to acquire the following assets of Tronox Incorporated and its subsidiaries under Section 363 of Chapter 11 of the U.S. Bankruptcy Code:
· Titanium
dioxide facilities in The Netherlands and the United States
(excluding Savannah, Georgia);
· A 50% joint venture interest in
another titanium dioxide facility in Australia and associated
mining and other operations; and
· Electrolytic production facilities
in the United States.
Tronox Incorporated, the world’s third-largest producer and marketer of titanium dioxide pigment, holds a 12% market share and serves customers in 100 countries.
We operate five titanium dioxide facilities in North America, Europe and Australia.
- Hamilton, Mississippi, U.S.
- Savannah, Georgia, U.S.
- Botlek, Netherlands
- Uerdingen, Germany
- Kwinana, Australia
50/50 joint venture between Tronox and South African-based Exxaro Resources Limited through its Australian subsidiary Yalgoo Minerals Pty Ltd.
Tronox produces electrolytic and specialty chemicals at facilities in the United States at Henderson, Nevada, Hamilton, Mississippi, and Soda Springs, Idaho. See highlights on our electrolytic and specialty chemical facilities:
Huntsman's bid provides for a purchase price of approximately $415 million, including working capital. Huntsman intends to finance approximately fifty percent of the purchase price with debt.
The agreement will be submitted for approval to the United States Bankruptcy Court for the Southern District of New York.
Peter Huntsman, President and CEO of Huntsman Corporation, stated: "We look forward to the prospect of acquiring these assets. This acquisition, even before expected synergies, would be immediately accretive to our operating earnings and cash flow, as well as reduce our debt leverage. By combining our existing Pigments division with these assets, we also can realize substantial efficiencies that will benefit the customers, vendors, employees and other stakeholders of the combined business."
Tronox and certain of the company's subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code on January 12, 2009. A stalking horse bid is a binding proposal for a bankrupt company's assets from an interested buyer chosen by the bankrupt company, subject to a higher offer through an auction process approved by the bankruptcy court. If Huntsman is ultimately approved by the bankruptcy court as the buyer and the sale is approved, Huntsman's completion of the proposed acquisition of the assets of Tronox as agreed remains subject to customary antitrust and other regulatory approvals.
優良事業だけを原則として債務なしで売却し、売れない資産を数年かけて清算するというChapter 11の清算形態。
非公式に買い手候補を探し、最もよい条件を提示した買い手候補（Stalking Horse)を選択。それよりも良い条件の買い手が出れば入札で買い手を決め、なければStalking Horse が当初の条件で購入。
Mr. Huntsman commented further, "We look forward to completing the auction process and to working productively with the various stakeholders of Tronox to bring this transaction to a timely and orderly conclusion."
Tronox's JV partner in Australia, Exxaro Resources Limited, has agreed to waive contractual restrictions on the transfer of Tronox's JV interests to Huntsman, including applicable right of first refusal and change of control rights, in the event Huntsman is approved by the bankruptcy court as the buyer of the assets.
| Advanced Materials | Design
&Composites Engineering Power & Electronics Coatings, Construction & Adhesives |
| Polyurethanes | Rigids Flexibles Elastomers TPU |
| Performance Products | Performance
Specialties Performance Intermediates Maleic Anhydride & Licensing |
| Pigments | Titanium Dioxide |
January 12, 2009
Tronox’s U.S. Operations File Chapter 11
? Continues Business as
Usual
? Has Commitment for up to $125 million in DIP Financing
? Seeks Relief From Legacy Liabilities
Tronox Incorporated announced today that it and certain of the company’s subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The filing does not include Tronox’s operations outside of the U.S., which are based in Australia, Germany and the Netherlands.
“After careful evaluation of all strategic alternatives, we have concluded that a Chapter 11 filing is the best way to address the company’s debt, in particular its legacy liabilities,” said Dennis Wanlass, Tronox chairman and chief executive officer. “We want to assure customers, suppliers and employees that our operations are continuing without interruption, and during the restructuring period, we will remain focused on continuing to provide customers with quality products and unsurpassed service.”
The company has taken steps to ensure the continued supply of goods and services to its customers, with a commitment for up to $125 million in new debtor-in-possession (DIP) financing from its existing lending group led by Credit Suisse.
The DIP financing provides Tronox with ample liquidity to continue operations as usual during the restructuring process. The company will use the financing to pay vendors for all goods and services provided after the filing date. Additionally, Tronox has requested court approval to continue to pay employees in the same manner as before the filing with no disruption, and expects the request to be granted as part of the court's "first day" orders.
The decision to file was made to address legacy liabilities. Tronox incurred these liabilities when it was spun off in 2006 by Kerr-McGee Corporation, which has since been acquired by Anadarko. The liabilities include environmental remediation and litigation costs that Tronox was required to assume at the time of the spinoff. These liabilities are an obstacle to Tronox's financial stability and success.
“I want to thank our customers, suppliers and business partners for their continued commitment. I want to give special thanks to our employees around the world for their ongoing loyalty and support for our company,” Wanlass said.
AnadarkoによるKerr-McGee、Western Gas Resoucesの買収
米国の独立系石油企業であるAnadarkoは2006/6月23日に、米国の独立系石油企業であるKerr-McGee及び米国のWestern Gas Resoucesを買収すると発表した。本買収によりAnadarkoは、確認埋蔵量36億バレル（2005年の3社単純合算ベース）と独立系企業では世界最大の確認埋蔵量を誇る企業となる。また、生産量でも日量約73万バレルとDevon Energy、Occidentalを抜き、Encanaに次ぐ生産量を誇る企業に踊りでることになる
The Kerr-McGee Corporation was an energy company involved in the exploration and production of oil and gas resources.
Huntsman and Sinopec Form Joint Venture to
Build and Operate PO/MTBE Facility in Nanjing, China
Huntsman Corporation today announced that it has entered into a joint venture
agreement with Sinopec Jinling Company金陵石化, a
subsidiary of Sinopec. The joint venture, Nanjing Jinling
Huntsman New Materials Co., Ltd. will build and operate a world scale
Propylene Oxide (PO) and Methyl Tertiary Butyl Ether (MTBE)
facility in Nanjing, China. The facility is expected to be completed by the end
of 2014 and it will utilize Huntsman's proprietary PO/MTBE manufacturing
technology.
PO is an intermediate compound used to make high value polyurethane materials
ranging from energy efficient home insulation and building materials to comfort
foams for automobiles and furniture. MTBE is a clean burning fuel additive that
improves gasoline engine performance and reduces air pollution.
Huntsman will own 49 percent of the joint venture,
and Sinopec will own 51 percent. The facility will produce
550 mm lbs of PO and 1.6 billion lbs of MTBE at a capital cost of
approximately $750 million. Other details of the
joint venture were not disclosed.
Commenting on the agreement, Peter R. Huntsman, President and CEO said, "This
partnership provides a tremendous opportunity for us to further our global
expansion and create shareholder value. We are proud to partner with Sinopec, a
global leader in energy, refining and chemicals."
Huntsman's Polyurethanes division has world scale production facilities in the
U.S., the Netherlands and China, including a PO/ MTBE plant in Port Neches,
Texas and is a global leader in PO technology.
Huntsmanのポリウレタン事業部は米国、オランダ、中国（上海）にMDIプラントを持つ。
同社はTDI も製造していたが、2005年にBASFにTDI 事業を売却（工場は停止）し、MDIに特化している。Huntsmanはこのほか、テキサス州にPO/MTBE（24万トン/75万トン）を持っている。
Huntsmanは5月25日、煙台万華ポリウレタン(Yantai Wanhua Polyurethanes)との間で PO/MTBE の技術供与の契約を締結したと発表した。能力や契約条件は明らかにしていない。
2011/5/31 Huntsman、煙台万華ポリウレタンに PO/MTBE 技術供与
米化学大手と提携 桧家ＨＤ、断熱材原料を直接購入
注文住宅事業を手掛ける桧家ホールディングスは米化学大手ハンツマンと提携する。子会社で断熱材施工大手の日本アクアにハンツマンの出資を受け入れることで合意した。日本アクアは中間流通を経ずに米社から断熱材原料を直接仕入れることでコストを３割程度圧縮する。東日本大震災以降、注目が集まる省エネ住宅の販売拡大につなげる。
ハンツマンは月内をめどに、約７億円を投じて日本アクアが実施する第三者割当増資を引き受ける。出資比率は20％弱になる見通し。
日本アクアは住宅の壁の内側にポリウレタンを吹き付けて、断熱機能を持たせる工事を手掛ける。年間約２万戸を施工する最大手。2012年12月期の売上高は約65億円。
ハンツマンはポリウレタン原料の世界大手。11年の売上高は約１兆円だが、日本市場の開拓は遅れており、日本での売上高は90億円程度にとどまっている。ポリウレタンの大口需要家である日本アクアとの資本提携で販売先を確保し日本での売り上げを伸ばす。
桧家ＨＤは日本アクアを上場させることも検討しており、ハンツマンからの出資受け入れで企業価値の向上にもつながるとみている。
