Huntsman completes acquisition of Russian JV

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Monday, July 16, 2012
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The Woodlands, TX - Huntsman Corporation has completed the acquisition of the remaining stake of Huntsman NMG, its Russian polyurethanes joint venture with NMG, the manufacturer of polyurethanes in Russia and other areas of the former Soviet Union. The financial terms of the deal were not disclosed. With the acquisition of the residual stake, Huntsman became the sole owner of the company Huntsman NMG. Thus, Huntsman NMG will get the opportunity to gain greater access to the Russian market in the arena of high value coatings, adhesives and elastomers. Back in 2007, Huntsman and NMG formed the joint venture called ZAO Huntsman NMG. The two leading companies partnered to manufacture and sell polyurethane systems to the adhesives, coatings, elastomers and insulation markets in Russia and other areas of the former Soviet Union.