Huntsman Corporation has signed a definitive agreement to acquire the business of Oxid L.P., a privately-held manufacturer and marketer of specialty urethane polyols based in Houston, Texas. 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) - in which Huntsman's Polyurethanes division is a leading global producer - to create polyurethane foam insulation for walls, roofs, refrigerators and many other applications.
Oxid markets its diverse product line of specialty polyols under the trademark Terol and distributes products worldwide from its manufacturing facility in Houston.
The transaction is expected to close during the third quarter and will be immediately accretive to Huntsman's earnings. Oxid generated $86 million of revenue in 2012.