Huntsman Corp. has closed the deal for sale of its U.S. butadiene and MTBE business to Texas Petrochemicals LP. Huntsman has already received US$192 million out of the US$262 million purchase price. Balance amount will be received after the company restarts a business unit that will supply crude butadiene to Texas Petrochemicals. Huntsman will use the proceeds to pay debt and invest in other parts of the company, as it focuses on differentiated rather than commodity products.
The unit has capacity to produce 900 million pounds of butadiene annually and 11,000 bpd of MTBE. Revenues of the company were pegged at US$645 million last year.
28-Jun-06 
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