SALT LAKE CITY — Huntsman Corp. announced an agreement to acquire the Morton global thermoplastic polyurethane (TPU) business from Rohm and Haas Co. for a reported $120 million. The business is a supplier of aromatics, adhesives, aliphatics and coatings, and will be integrated into Huntsman Polyurethanes as a global strategic business unit, Huntsman said.
The business operates manufacturing sites in Ringwood, IL, and Osnabrueck, Germany, and has approximately 160 employees. Its products include materials for the coatings and adhesives, footwear, and automotive markets. The business, which recorded 1999 sales of approximately $75 million, was purchased by Rohm and Haas last year as part of the acquisition of Morton International Inc. Rohm and Haas said the business supplied products for plastic components, which are outside its “strategic direction.”