1 May 2017
DETAILS
Huntsman Corporation announced today
that it has completed
the acquisition of IFS Chemicals Limited (IFS),
one of the UK’s leading independent formulators
of methylene diphenyl diisocyanate (MDI) based systems.
The purchase price was not disclosed.
Located in Kings Lynn, England, IFS was established
more than 35 years ago and
its customized MDI systems are used
in a diverse range of end markets, including
insulation, appliances, automotive
and elastomeric applications.
Tony Hankins,
President of Huntsman’s Polyurethanes division
“With their highly experienced team and loyal customer base,
IFS provides us with excellent access
to the UK’s growing downstream MDI systems market.
It will serve as a strategic platform
to expand our business
and consolidate our position as a market leader.
The acquisition represents the latest step in our plan
to strengthen our differentiated downstream capabilities
and we now have more than 25 facilities worldwide,
reflecting our confidence
in the long-term growth prospects for MDI-based urethanes.”
Barrie Colvin
IFS founder and Managing Director
“I am delighted that we have reached agreement
with Huntsman and look forward
– together with the rest of the IFS team -
to an exciting future which brings together
the best of IFS and Huntsman Polyurethanes,
strengthening our ability
to meet the growing needs of existing and future customers.”
Media:
Gary Chapman
(281) 719-4324
Investor Relations:
Ivan Marcuse
(281) 719-4637
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