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July 8, 2013

Huntsman signs agreement to acquire Oxid L.P.

Dorothy Lozowski

Huntsman Corp. (The Woodlands, Tex.; www.huntsman.com) has signed a definitive agreement to acquire the business of Oxid L.P., a privately held manufacturer of specialty urethane polyols based in Houston. The financial terms of the agreement were not disclosed.

Oxid’s polyols are a key component in the production of energy-saving polyurethane insulation products that are used in residential and commercial construction. The polyols are combined with methylene diphenyl diisocyanate (MDI) —  which Huntsman’s Polyurethanes div. produces  — to create polyurethane foam insulation for walls, roofs, refrigerators and other applications.

The transaction is expected to close during the third quarter. Oxid generated $86 million of revenue in 2012.

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