Huntsman Corp. reports Q4 operating loss

02-Mar-09

Despite reporting a Q4 operating loss, Huntsman Corp. has interestingly posted a net profit, mainly because of a US$1 bln settlement from a failed merger with Hexion Specialty Chemicals Inc, a subsidiary of Apollo Management. The company decided to terminate, in December, its US$6.5 bln merger pact with Hexion Specialty Chemicals Inc. Excluding one-time items, it reported a loss from continuing operations of US$91 mln, and a 18% fall in revenues to US$2.05 bln. Net earnings were US$598 mln, compared with US$2 mln a year ago.