ERJ staff report (DS)
The Woodlands, Texas -- Huntsman Corp. has acquired EMA Kimya Sistemleri Sanayi ve Ticaret A.S., a polyurethanes systems house in Istanbul, Turkey. The EMA systems house has the capacity to manufacture polyester polyols and blend MDI polyurethane systems used primarily in the insulation, automotive, adhesives, coatings, elastomers and furniture industries. 2010 revenues were approximately $17 million.
Commenting on the sale, Anthony Hankins, President of the Polyurethanes division, said: "We are pleased with the acquisition of EMA. This acquisition is part of our global strategy to strengthen our presence in key growth markets. In 2010, Turkey's MDI polyurethane systems grew at a rate of 13-15 percent. We look forward to leveraging this demand and providing a broader product offering to customers in this region."
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Press release from Huntsman