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Huntsman Announces Acquisition of CVC Thermoset Specialty Materials, Expanding Its Specialty Chemicals Portfolio

 Last Update: 2022-08-22
 Source: Internet
 Author: User

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On March 16, 2020, Huntsman Corporation announced that it has entered into an agreement to acquire CVC Thermoset Specialties, a North American manufacturer of specialty chemicals serving the industrial composites, adhesives and coatings markets

CVC Thermoset Specialty Materials has annual revenues of approximately $115 million and has two manufacturing facilities in Akron, Ohio, and Maple Shade, New Jersey

Commenting on the acquisition, Scott Wright, president of Huntsman's Advanced Materials business unit, said: "The acquisition of CVC Thermoset Specialty Materials brings valuable complementary technologies to our advanced materials portfolio whose unique products will enable our systems to use our Leading epoxy-based materials are tougher, stronger and more durable

Huntsman Chairman, President and Chief Executive Officer Peter Huntsman further commented: "CVC meets all the criteria for our acquisitions in the Advanced Materials segment, including new technologies, synergies and globalization opportunities

“During these uncertain times, our financial strength will allow us to continue to seek out such acquisitions, while maintaining a conservative balance sheet and opportunistically repurchasing shares

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