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Huntsman Acquires IFS Chemicals
May 06, 2017 (MarketLine Financial Deals Tracker via COMTEX) -- (c) 2001-2016 Marketline. All rights reserved. Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Marketline shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.

Huntsman Corporation, a manufacturer and marketer of differentiated chemicals, acquired IFS Chemicals Limited, an independent formulators of methylene diphenyl diisocyanate (MDI) based systems. The MDI systems are used in diverse range of end markets, including insulation, appliances, automotive and elastomeric applications and strengthen its differentiated downstream capabilities. The transaction enables Huntsman to provide access to the growing downstream MDI systems market in UK. Tony Hankins, president of polyurethanes division of Huntsman, said, "With their highly experienced team and loyal customer base, IFS provides us with excellent access to the UK's growing downstream MDI systems market. It will serve as a strategic platform to expand our business and consolidate our position as a market leader. The acquisition represents the latest step in our plan to strengthen our differentiated downstream capabilities and we now have more than 25 facilities worldwide, reflecting our confidence in the long-term growth prospects for MDI-based urethanes." Barrie Colvin, founder and managing director of IFS, said, "I am delighted that we have reached agreement with Huntsman and look forward - together with the rest of the IFS team - to an exciting future which brings together the best of IFS and Huntsman Polyurethanes, strengthening our ability to meet the growing needs of existing and future customers."

Deal Participants

Deal Rationale

The transaction enables Huntsman to provide access to the growing downstream MDI systems market in UK.

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