Huntsman considers buying specialty chemical plants

September 07, 2009 - United States Of America

According to a senior executive from the US based chemical group Huntsman, the group is considering to buy specialty chemical plants in China with portion of funds coming from a compensation package of $2.7 billion.

The company received the compensation as proceeds of an aborted takeover. Earlier this year, Huntsman moved the headquarters of its textile chemicals business to Singapore from Basel, Switzerland.

Currently, the group is evaluating various possible facilities, including targeting plants under the Swiss chemical group Clariant, German chemical group BASF and also subsidiaries of the China Chemical Industry Group.