In line with its plan to exit the commodity petrochemicals business to focus on differentiated and inorganic products, Huntsman plans to sell its chemicals and polymers assets, including the Odessa plant and facilities in Port Arthur and Longview, Peru, Ill., and Marysville, Mich., to Flint Hill Resources, a subsidiary of Koch Industries, for US$761 million. The sale is pending regulatory approval as well as completion of repairs Huntsman is making to the Port Arthur olefins facility, damaged by a fire last year. It is expected to close in the third quarter.
This acquisition allows Flint Hill Resources to grow its existing chemical production. The company will continue to operate the Odessa plant, which produces impact copolymers to specialty grade polypropylenes used in medical and electrical applications.
16-Feb-07 
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