Wilmar To Buy Huntsman's European Commodity Surfactants Business - Quick Facts

(RTTNews) - Wilmar International Ltd.'s (WLMIF.PK) unit, Wilmar Europe Holdings B.V., has agreed to acquire specialty chemical firm Huntsman Corp.'s (HUN) European commodity surfactants business, for undisclosed terms. Purusant to the deal, Huntsman intends to sell its ethoxylation facility in Lavera, France to Wilmar. Further, Wilmar would reach a multi-year arrangement to buy sulphated surfactant products from Huntsman's facilities in St. Mihiel, France and Castiglione delle Stiviere, Italy.

Separately, Huntsman also announced its intention to stop production by October 2014 at its Patrica, Italy commodity surfactants facility.

Huntsman added that the Patrica facility closure and the implementation of other restructuring activities, including the re-focus on differentiated surfactants following the sale to Wilmar, would result in a smaller, more profitable surfactants business for Huntsman in Europe going forward.

Commenting on the transaction, Huntsman's Chief Executive said: "This restructuring and portfolio repositioning will benefit our Performance Products division in Europe and preserve jobs that otherwise would have been lost."

The deal completion remains subject to customary closing conditions, including regulatory procedures in France.