Huntsman Corp. to sell butadiene assets for US$275 mln

27-Feb-06

US based Huntsman Corp. plans to sell assets from its U.S. butadiene and MTBE (methyl tertiary butyl ether) business, along with the Port Neches, Texas, facility for US$275 million to Texas Petrochemicals. The deal is expected to close by mid-2006. The company's PO/MTBE and Oxides/Olefins facilities in Port Neches and a facility Port Arthur are not included in the sale, For Texas Petrochemicals, this acquisition will provide cost synergies and enable the company to serve customers better. Headquartered in Houston, Texas, Texas Petrochemicals LP is a premier chemical company with more than $1 billion in annual sales. The Company provides quality C4 chemical products and services to both local and global industry companies. The Company has manufacturing facilities in Houston Ship Channel and operates product terminals in Baytown, Texas and Lake Charles, Louisiana.