Huntsman Corp. has agreed to acquire the chemicals business of Indian ethylene oxide derivative maker Laffans Petrochemicals Ltd. Financial terms of the agreement were not disclosed. The company expects to close on the deal in 2011. When completed, the chemical business will be integrated into Huntsman’s performance products division.
The acquisition is subject to certain terms and conditions and is expected to occur in the first half of 2011.
The acquisition is in line with Huntsman’s strategy to meet the demands for other amines in Asia.