THE WOODLANDS, TX – Huntsman Corp. announced that the European Commission has approved its previously announced acquisition of the Performance Additives and Titanium Dioxide (TiO2) businesses of Rockwood Holdings Inc. The commission approval is subject to the divestiture of Huntsman’s business associated with a product known as TR52 mainly sold into inks applications. This divestiture represents approximately 30 kilotons of TiO2 with annual EBITDA of approximately $5 million to $10 million and excludes any associated manufacturing assets.
Huntsman has entered into a definitive agreement to sell its TR52 business to Henan Billions Chemicals Co. Ltd. Financial details of this agreement were not disclosed.
The transaction with Rockwood is expected to close in the coming weeks, pending the European Commission’s approval of the sale of the TR52 business to Henan.