Huntsman, PUR-Systems ink JV to manufacture, sell PU systems in Central Europe

06-Nov-08

Huntsman Corporation and PUR-Systems GmbH & Co. KG have formed a joint venture for making and selling polyurethane systems in Central Europe and elsewhere. A memorandum of understanding (MoU) had been signed between the two companies in May, giving Huntsman a majority share. The financial terms were not disclosed. The JV aims to fortify Huntsman's position in Europe particularly in downstream rigid systems market. PUR-Systems GmbH & Co. KG is a well positioned upstream partner and Huntsman aims to further develop new markets.