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Huntsman Completes Sale

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By: KERRY PIANOFORTE

Editor, Coatings World, Coatings World

Huntsman Chemical Company Australia Pty Ltd. (HCCA), a part of Huntsman Corp.’s base chemicals and polymers division, has completed the previously announced sale of its polyester resins (composites) business assets to Nuplex Industries Ltd. for approximately AU$9.6 million (approximately U.S.$7.5 million) in cash plus the value of inventory and other stock in trade at the completion date, for a total transaction value of AU$20.3 million. The assets sold include HCCAs polyesters, vinylesters and gelcoats manufacturing assets. Annual sales from the business total approximately AU$53 million. The company reports that financial performance of the business had been modest.
“The completion of this transaction

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