THE WOODLANDS, TX — Huntsman Corp. has entered into a definitive agreement to sell its chemical intermediates businesses, which includes PO/MTBE, and its surfactants businesses to Indorama Ventures in a transaction valued at $2.076 billion. Under the terms of the agreement, Indorama Ventures will acquire Huntsman's manufacturing facilities located in Port Neches, Texas; Dayton, Texas; Chocolate Bayou, Texas; Ankleshwar, India; and Botany, Australia. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close near year-end.

Peter Huntsman, Chairman, President and CEO, commented, "This transaction further transforms Huntsman's balance sheet and future. It accelerates our ability to expand more in areas both downstream and complementary to our portfolio. This is another milestone in our stated strategy to focus more on our downstream and specialty businesses where we will generate more stable margins and consistent, strong free cash flow. We are committed to retaining our strong investment-grade balance sheet, repurchasing our shares, investing in organic research and select capacity expansions, and acquiring strategic assets that are accretive to our earnings and create shareholder value.