THE WOODLANDS, TX – Huntsman Corp. announced that the company has entered into a definitive agreement to acquire the chemicals business of Laffans Petrochemicals Ltd.
Located in Ankleshwar, India, the Laffans chemicals business manufactures amines and surfactants. The chemicals business has 130 employees and annual sales of approximately $45 million. The acquisition is subject to certain terms and conditions and is expected to occur in the first half of 2011. The Laffans chemicals business will be integrated into the Performance Products division and is expected to be immediately accretive to earnings.