US Huntsman takes full control of Russian joint-venture
US Chemical firm Huntsman is taking full control of its Polyurethanes joint-venture Huntsman NMG (HNMG) in Russia by buying up the remaining chares of the partner
HNMG is a leading supplier of polyurethane systems to the adhesives, coating and footwear markets in Russia, Ukraine and Belarus. The financial terms of the deal were not disclosed.
The step was taken because the Russian Federation is considered to be an important and fast growing economy, with double digit growth rates predicted for polyurethane products. According to in-house information and comment by Anthony P. Hankins, President of Huntsman’s Polyurethanes division “this investment will give us greater access to the high value coatings, adhesives and elastomers markets through an established, state-of-the-art operational platform that will enhance our ability to provide differentiated solutions to our customers.