Huntsman Corp. announced Monday that it has completed the acquisition of leading UK Independent Polyurethane Formulations Co.
“With their highly experienced team and loyal customer base, IFS provides us with excellent access to the UK’s growing downstream MDI systems market,” Tony Hankins, president of Huntsman’s Polyurethanes Division, said in a news release.
“It will serve as a strategic platform to expand our business and consolidate our position as a market leader,” he said. The acquisition represents the latest step in our plan to strengthen our differentiated downstream capabilities, and we now have more than 25 facilities worldwide, reflecting our confidence in the long-term growth prospects for MDI-based urethanes.”
A purchase price was not disclosed.
IFS, an independent formulator of methylene diphenyl diisocyanate (MDI) based systems, was established more than 35 years ago and its MDI systems are used in products such as insulation, appliances and cars.