huntsman

Hexion Increases Offer for Huntsman Corporation to $28.00 Per Share

Hexion confirms to buy Huntsman in 10.6 bln usd deal

Huntsman says enters alliance for Texas biodiesel plant

Huntsman Acquires Global Fluorochemical Product Line for Nonwovens from DuPont

2007/8 Huntsman sells U.S. Polymers Business to Flint Hills Resources

2007/11 Huntsman and Flint Hills Resources Close On Sale of Base Chemicals Business

2008/2 　Huntsman Commences Design and Feasibility Studies to Expand its Global MDI Manufacturing Capacity

2008/4 　Huntsman Joint Venture To Pursue Major Maleic Anhydride Expansion In Germany

2008/6 Hexion files suit alleging that transaction with Huntsman is no longer viable

　　　　Huntsman Sues Apollo and Its Top Executives Over Hexion Deal

2008/7 European Commission Approves Merger With Hexion

2008/8 Huntsman Shareholders Offer Capital On Merger Closing　　　　

その後

2008/9 Huntsman All But Wins Fight

　　　　　Huntsman Obtains Temporary Restraining Order Against Credit Suisse and Deutsche Bank

Jon Meade Huntsman, Jr. (born March 26, 1960 in Palo Alto, California) is the governor of the state of Utah, having won the office in the 2004 election. He was elected with 57% of the vote over Democrat Scott Matheson Jr..
His term as the 16th governor of Utah began on January 3, 2005.

Huntsman is the son of billionaire businessman and philanthropist Jon Huntsman of Huntsman Corporation.

Realigning portfolio to differentiated businesses 　2006/9　
http://library.corporate-ir.net/library/18/186/186725/items/212896/CSFBConf0906.pdf

2006/6/27 　completed sales of U.S. Butadiene / MTBE for $262 million to TPC
2006/6/30　 completed acquisition of CIBA TE business for $255 million ($88million
　　　　　　　　　チバ・スペシャルティ・ケミカルズテキスタイル機能材ビジネス
2006/9　　　Huntsman to Sell European Commodities Business to SABIC

　　　　　　　　　　　　　　　↓

2003/5/9　Huntsman

Huntsman Buys Out Minority Interests In Huntsman International Holdings
　　　http://www.huntsman.com/ShowPage.cfm?PageID=1159&News_ID=855

Jon M. Huntsman, Founder and Chairman, and Peter R Huntsman, President and CEO, of the Huntsman companies today announced the purchase of ICI's debt and equity holdings in Huntsman International Holdings LLC (HIH), and the additional purchase of two financial institutions' minority interest in HIH.
(Note: Huntsman International was formed when Huntsman purchased a majority stake in ICI’s industrial chemical business)

With the buyouts, HMP Equity Holdings Corporation (HMP), which is controlled by the Huntsman family, now owns 100% of all principal Huntsman business entities.
(Note: HMP Equity Holdings：51% owned by the Huntsman family and 49% owned by New York private equity firm MatlinPatterson )

Platts 2002/9/30

Huntsman completes financial restructuring

Huntsman Corp reported Monday the completion of its financial restructuring.

Huntsman Corporation　　　　　http://www.huntsman.com/

Huntsman Corporation is the world's largest privately held chemical company. Its operating companies manufacture basic products for a variety of global industries including chemicals, plastics, automotive, footwear, paints and coatings, construction, high-tech, agriculture, health care, textiles, detergent, personal care, furniture, appliances and packaging.

Businesses:

Huntsman's six major businesses manufacture and market over 33 billion pounds of product each year.

Performance Chemicals
Petrochemicals
Polymers
Polyurethanes
Surface Sciences
Tioxide

Petrochemicals

Huntsman's worldwide petrochemicals operations are made up of three major regional businesses in the Americas, Europe and Asia Pacific.

　ＵＳＡ

Odessa, Texas

Polypropylene

Polyethylene

　The REXellｮ Linear Low Density Polyethylene

　The High Pressure Low Density

Port Arthur, Texas

Huntsman Corporation's Jefferson County Operations (JCO) employs 1400 associates.

JCO has four main sites: Oxides & Olefins , C4, PO/MTBE Plant, all in Port Neches; and Aromatics & Olefins in Port Arthur.

The A&O Plant in Port Arthur covers a land area of 229 acres and employs approximately 250 associates. Three major products are made here: ethylene, propylene, and cyclohexane.

Port Neches, Texas

The C4 Plant in Port Neches covers a land area of 585 acres and employs approximately 250 associates. Two major products here are butadiene and MTBE (methyl tertiary butyl ether.) The plants have a capacity to produce 750 million pounds per year of butadiene and 3.8 barrels per year of MTBE.

The Oxides & Olefins Plant in Port Neches cover a land area of 2400 acres and employs approximately 450 associates. A wide variety of products are made here: ethylene, propylene, ethylene oxide, ethylene glycol, propylene glycol, ethanolamines, surfactants, morpholine, diglycolamine, and other smaller by-products.

Alongside the O&O plant is the PO/MTBE plant. The PO/MTBE Plant covers a land area of 195 acres and employs approximately 150 associates. The plant can produce 400 million pounds of propylene oxide and 2.2 billion pounds of MTBE per year.

　　Europe

Huntsman European Petrochemicals is a major manufacturer of bulk commodity chemicals. These provide the key raw materials for a vast range of end products, which are essential for today's modern lifestyles.

Our production facilities comprise:

・the Olefins business, manufacturing ethylene, propylene and butadiene on the world-scale Olefins 'Cracker' plant at the Wilton International Site. From here, we also store and distribute products and feedstocks via ship and cross-country pipelines.
・the Aromatics business, manufacturing benzene, ethyl benzene, xylenes, cyclohexane and cumene at our North Tees Site and Paraxylene at Wilton International.
・at North Tees, we also manufacture brine, operate ethylene liquefaction facilities and store feedstocks
and products for distribution by road and ship.
These manufacturing operations are highly integrated and closely linked in terms of both feedstocks and finished products.

Huntsman European Petrochemicals came into existence on 1 July 1999 when the business was purchased by Huntsman Corporation from ICI as part of a major acquisition which also included the Polyurethanes and Tioxide global operations.

Virtually all of the European Petrochemicals manufacturing operations are based at two large chemical complexes on Teesside, UK - Wilton and North Tees sites.

　 ANZ

Huntsman Chemical Company Australia (HCCA) Pty Limited's origins go back to 1928 and the founding of the Monsanto Southern Cross Chemical Company.

Huntsman Chemical Company Australia manufactures and distributes a diverse range of plastics and chemicals -

Styrene Monomer
Polystyrene
EPS
Polyester Resins
Gelcoats
Phenol, Acetone and Cumene Hydroperoxide
Phenolic Resins
Phenolic Laminating Resins
Other Petrochemicals

Chemical Week 2002/6/25

Huntsman Restructures Debt; Family to Cede 49.9% Stake
By Robert Westervelt

Huntsman Corp. has agreed to a financial restructuring with its largest bondholder that includes the exchange of most of its outstanding bond debt for a 49.9% stake in the Huntsman family’s chemical holdings.

Huntsman International, formed when Huntsman purchased a majority stake in ICI’s industrial chemical business, has performed relatively well under a separate financing facility and continued to make bond interest payments.

April 16, 2003 Financial Times

Huntsman to build world's largest LDPE plant in the UK.

Huntsman is to build a 375,000-400,000 tonnes/y, EUR 200 M - EUR 220 M, low density polyethylene (LDPE) plant in Wilton, Teeside, UK, which would be the largest in the world.

Huntsman makes 800,000-900,000 tonnes/y of ethylene on the site and currently stores it cryogenically for export. The new plant will save the cost of cryogenic storage（低温保管） of 400,000 tonnes/y of ethylene by replacing it with PE storage and transport.

Petrochemical News 19 JULY 2004 (Vol. 42, No. 29)

Huntsman Mulling Construction Of Wilton, U.K., LDPE Facility　　　　　　参考
 http://www.petrochemical-news.com/P-V42N29.pdf

Kurt Dowd, vice president of finance and investor relations for Huntsman, told PCN that Huntsman's board is expected to make a decision by the end of this year on building a 400,000-t/y LDPE plant at the Wilton complex.

Huntsman acquired the Wilton cracker from BP and ICI in 1999. At that time, the cracker was reported to have about 1.9-billion lbs/yr of ethylene and 880-million lbs/yr of propylene capacity.

2004/9/7 Platts 　　　　　　　　　発表　　　　　　事前情報

Huntsman announces go-ahead for world's largest LDPE plant

Huntsman has finalized its decision to build a 400,000 mt/yr low density polyethylene plant at Wilton, UK. The GBP200-mil ($355-mil) plant will mark Huntsman's entry into the European polyethylene market.

The company expects to begin construction in 2005, with the plant being operational in the third quarter of 2007, subject to technology licensing.

January 21, 2005 BUSINESS WIRE

ExxonMobil Chemical Announces a Licensing Agreement for the World's Largest LDPE Tubular Reactor

ExxonMobil Chemical Technology Licensing, LLC announces it has signed an agreement with Huntsman Petrochemical (UK) Limited to license ExxonMobil's tubular process technology for Huntsman's new world-scale low density polyethylene (LDPE) plant. The 400 kilotonnes-per-year (kta) plant, to be built in Teesside, England, will be the world's largest LDPE reactor. Work is expected to start on the new facility in January 2005 with completion expected in late 2007.

2004/9/8 Huntsman

Huntsman to Proceed With Construction of World's Largest Polyethylene Plant
http://www.huntsman.com/index.cfm?PageID=816&News_ID=1239&style=8

Huntsman President and Chief Executive Officer Peter R. Huntsman today announced the go-ahead for plans to build the world’s largest low density polyethylene (LDPE) manufacturing facility, on Teesside in the UK. The announcement was also made simultaneously in London by UK Secretary of State for Trade and Industry, Patricia Hewitt, MP

The 400,000 tonnes per year plant, Huntsman’s first venture into the growing European polyethylene market, will be built at the Wilton International site at a cost of around ￡200 million. The company anticipates the main plant will cost approximately ￡180 million with a further ￡20 million covering logistics and infrastructure.

2005/10/6 Huntsman

Huntsman Breaks Ground For New ￡200 Million Polyethylene Project At Wilton
http://www.huntsman.com/index.cfm?PageID=5549&News_ID=1411&style=4544

Huntsman Corporation President and Chief Executive Officer Peter R Huntsman today (Thursday, 6 October) launched the start of construction of the world’s largest Polyethylene facility at the Wilton International chemical complex near Redcar.

Piling and ground preparation work will start on site shortly and construction of the 400,000 tonnes a year polyethylene facility will be spread over two years, with completion due in the fourth quarter of 2007.

Platts 2005/11/16

US Huntsman to break ground for Singapore polyetheramines plant 　　ポリエーテルアミン

Huntsman of the US is scheduled to launch construction of a new polyetheramines plant in Singapore on Nov 30, a company source said Tuesday.

下記参照

2005/9/14 Huntsman

Huntsman to Build Polyetheramine Manufacturing Facility in Singapore
http://www.huntsman.com/index.cfm?PageID=1159&News_ID=1390&style=40

Peter R. Huntsman, President and CEO of Huntsman Corporation today announced the company plans to build a world scale polyetheramine manufacturing facility in Jurong Island, Singapore.

The company expects the facility, which will have an annual capacity of approximately 30 million pounds, to be operational in the first quarter of 2007.

“We currently have polyetheramine production facilities in Conroe, Texas and Llanelli, Wales. Completion of the Singapore plant will increase our capacity by approximately 25% and give us a truly global platform for the manufacture and marketing of this specialty product.”

Key polyetheramines applications include epoxy coatings, concrete additives, organic pigments, fuel and lube additives, and herbicides and pesticides.

British Plastics & Rubber 2006/2/1

Bidders in talks to buy Huntsman

The giant American chemicals company Huntsman Corporation is in takeover talks.

Reports from the USA have linked Huntsman, which went public last year but is still owned substantially by its founder Jon Huntsman, with interest from a number of private equity firms. Apollo Management, which has just bought Tyco's plastics and adhesives business, has been tipped as a leading bidder with a price of in excess of $4・3 billion in discussion.

2006/2/5 Huntsman

Huntsman Ends Discussions On Company's Sale
http://www.huntsman.com/index.cfm?PageID=5549&News_ID=1473&style=4544

Huntsman Corporation announced today that it has terminated discussions regarding existing proposals to acquire the Company.

After careful review of the proposals received, the Company’s prospects and other strategic initiatives available, as well as thorough discussions with the parties, the Board of Directors of the Company and its special committee have concluded that none of the proposals were in the best interests of the shareholders.

2006/2/24 Texas Petrochemicals

Texas Petrochemicals, Inc. Announces Intent to Purchase Assets of Huntsman Corporation’s U.S. Butadiene Business
http://www.txpetrochem.com/ci/pdf/tpcnews/TPC-PurchaseofHuntsmanCorpAssets.pdf

Texas Petrochemicals, Inc. (the “Company”) today announced that Texas Petrochemicals LP has signed a letter of intent to purchase the assets of the United States butadiene and related MTBE operations of Huntsman Corporation, which includes a manufacturing facility located in Port Neches, Texas, for a purchase price of $275 million, subject to customary adjustments. The transaction is expected to close in mid-2006.
The Port Neches manufacturing facility has a capacity of approximately 900 million pounds of butadiene per year. The addition of these assets creates a business with more than $1.7 billion in revenues on a pro forma basis based on calendar year 2005
results.

2006/2/24 Huntsman

Huntsman To Sell U.S. Butadiene Business
http://www.huntsman.com/index.cfm?PageID=1159&News_ID=1481&style=40

Huntsman has owned the business since its 1994 acquisition of Texaco Chemical Company. The manufacturing facility has a capacity of approximately 900 million pounds of butadiene per year and approximately 11,000 barrels per day of MTBE. The business has about 240 employees. The business had 2005 revenues of approximately $626 million and EBITDA of approximately $43 million.

2006/4/6 Huntsman

Huntsman, Texas Petrochemicals Enter Into Definitive Agreement On Butadiene Business
http://www.huntsman.com/index.cfm?PageID=5549&News_ID=1490&style=4544

Huntsman Corporation announced today that it has entered into a definitive agreement to sell the assets comprising its U.S. butadiene and MTBE business to Texas Petrochemicals, L.P. for a sales price of $269 million, subject to customary adjustments. The companies expect to close the transaction in May.

The companies had signed a letter of intent regarding the sale in February.

Texas Petrochemicals LP 　　http://www.txpetrochem.com/ci/ci.htm　　　↑

Texas Petrochemicals LP (TPC) specializes in C4 hydrocarbons. The company's integrated manufacturing facility focuses on production and marketing within four main business units: C4 Olefins, Specialty Chemicals, Fuel Products and Polyisobutylene. TPC maintains its leadership in the industry with an innovative ability to bring high-quality products to the marketplace. Among the diverse product lines available to TPC customers are Butadiene, Butene-1, Isobutylene and Isobutylene derivatives.

Texas Petrochemicals LP (TPC) became a significant C4 producer with the acquisition of its Houston C4 chemical processing site in 1984. In 1996, after 12 successful years of growth and safe operations, the company's employees, management and a group of investors acquired the company. Under the new employee ownership, TPC has moved forward to become the world's best-known processor and supplier for high-quality C4 chemical products and derivatives.

2003/7/21 Texas Petrochemicals

Texas Petrochemicals LP and Affiliates File Chapter 11 Petitions to Facilitate Financial Restructuring
http://www.txpetrochem.com/ci/pdf/tpcnews/03-07-21.pdf

Texas Petrochemicals LP (TPLP), and its affiliates Texas Petrochemical Holdings, Inc. (TPH), Petrochemical Partnership Holdings, Inc, TPC Holding Corp, and Texas Butylene Chemical Corporation, announced today that to facilitate a financial restructuring, they have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas.
TPLP owns and operates petrochemical manufacturing facilities in Houston, Texas and operates product terminals in Baytown, Texas and Lake Charles, Louisiana.
The Chapter 11 filings were necessitated primarily by the drastic and likely permanent reduction in MTBE demand, arising from regulatory changes, and by recent higher raw material and energy costs.

We expect TPLP to emerge from the reorganization with a significantly improved financial structure that will position TPLP for long-term success in our core butadiene, specialty chemicals and gasoline alkylate businesses, while phasing out our on-purpose MTBE production."

Platts 2006/6/15

Texas Petrochemicals announces Baytown, Texas, expansion plan

Texas Petrochemicals LP announced Thursday the start of an expansion project at its Baytown, Texas, facility, which will expand the company's product portfolio to include nonene and propylene tetramer.

The expansion project, which is scheduled for completion in the first quarter of 2007, will include construction of a twin reactor, propylene derivatives plant that will produce nonene and propylene tetramer, as well as polymer gasoline and propane, the company said.

ノネン プロピレンの3重合体

Platts 2007/7/27

Texas Petrochemicals leaving MTBE market by year's end: source

Texas Petrochemicals (TPC) will step out of the merchant MTBE market by the end of this year, a source familiar with the operations told Platts Friday.

TPC is one of the largest producers of MTBE in the US.

　

2007/11/19 Platts

US' Texas Petrochemicals to double its polyisobutylene capacity

Texas Petrochemicals Inc (TPC), a petrochemical company specializing in products derived from C4 and C3 hydrocarbons, confirmed Monday its plans to more than double its current production of polyisobutylene (PIB) by mid 2008 with the addition of a new manufacturing facility in Houston, Texas.

2006/2/27 Huntsman

Huntsman Selects Geismar as Site for Maleic Anhydride Expansion
http://www.huntsman.com/index.cfm?PageID=5549&News_ID=1482&style=4544

Peter R. Huntsman, President and CEO of Huntsman Corporation, today announced the selection of Huntsman's Geismar, Louisiana site as the location for the Company's previously announced new 100 million pound world scale maleic anhydride facility. The Company will commence detailed engineering and reactor procurement immediately. Huntsman has chosen a fast track implementation model that will enable the plant to startup in the 3rd quarter of 2008.

Huntsman is a leading global producer of maleic anhydride and currently has the annual capacity to produce 240 million pounds at its Pensacola, Florida facility. Huntsman also owns a 50% interest in a joint venture in Moers, Germany that currently has an annual capacity of 125 million pounds.

* CONDEA-HUNTSMAN is a 50:50 joint venture of RWE-DEA Aktiengesellschaft fur Mineraloel und Chemie of Hamburg, Germany, and Huntsman Corporation of Salt Lake City, U.S.A. RWE-DEA conducts its global chemical business under the CONDEA brand name.

RWE Dea AG
http://www.rwe.com/generator.aspx/rwe-dea/unternehmen/language=en/id=226960/unternehmen.htm

RWE Dea AG is one of the leading petroleum companies in Germany, with a special focus on activities relating to the exploration and production of crude oil and natural gas. This is a field in which RWE Dea enjoys more than 100 years of experience, cutting-edge drilling and production technologies, as well as a broad reservoir of know-how.

In Germany, the company's activities focus on the exploration and production of natural gas, development of the Mittelplate offshore field in the North Sea tidelands and the operation of large underground natural gas storage facilities. Increasingly, the company's international upstream activities, first and foremost in Norway and Egypt, as well as in Dubai, Denmark, Poland and Kazakhstan, are being pursued with growing commitment in collaboration with competent partners.

RWE occupies top rankings in its core businesses, electricity, gas, water & wastewater, waste disposal & recycling.

2006/8/16 Huntsman

Huntsman Announces Major Pigments Production Increase 　　　着色料　二酸化チタン　　

Huntsman Corporation today announced plans for a 50,000 MTE expansion of its flagship titanium dioxide manufacturing facility at Greatham, U.K., bringing the facility’s annual capacity to 150,000 MTE.

The expansion will be based upon Huntsman’s proprietary ICON chloride technology and is the second significant project at the Greatham site since Huntsman acquired the TiO2 business in 1999. The company expects the new capacity to be operational in the second half of 2007 and fully completed in early 2008.

2008/8/24 AsiaPulse via COMTEX

US chemical giant Huntsman to boost China investment

US chemical giant Huntsman Corp will step up its investment in China in order to tap into strong domestic demand in the world's largest market for textile effects chemicals.

Peter Huntsman, the company's president and chief executive officer, made the remarks at yesterday's inauguration of Huntsman Textile Effects (China), in Guangzhou, southern China's Guangdong Province.

The new firm was the result of Huntsman's acquisition of the global textile effects business of Ciba Specialty Chemicals Holding Inc for US$253 million, which was completed last month.

New York-listed Huntsman has so far invested US$1 billion in China, including the acquisition of Ciba's China-based textile effects operations.

Huntsman also has a one-third share in a US$1 billion Shanghai chemical plant that mainly produces polyurethane. The project, which also has investment from BASF and Chinese partners, will become operational today, supplying the shoemaking, automobile and electrical appliance industries.

2007/2/1 Huntsman

Huntsman and NMG Announce Polyurethanes Joint Venture in Russia and Former Soviet States
ZAO HUNTSMAN-NMG TARGETS HIGH GROWTH MARKETS

Huntsman Corporation and NMG today announced the creation of a new, Russia-based joint venture, ZAO Huntsman - NMG, to manufacture and sell polyurethane systems to the adhesives, coatings, elastomers and insulation markets in Russia and other areas in the former Soviet Union. The financial terms were not disclosed.

Huntsman NMG will be based at NMG’s existing headquarters in Obninsk, close to Moscow, and will be managed by a General Director Sergey Ovcharov. The company employs over 200 employees, and has state of the art manufacturing and distribution facilities in Obninsk and a network of branch offices across the region, including in Belarus and the Ukraine.

NMG was founded in 1992 and has grown to be one of the leading polyurethanes companies in the former Soviet Union supplying a wide range of industries including construction, footwear and insulation with specialised polyurethanes systems optimized to meet specific user needs. Through its far reaching network of branch offices, NMG aims to provide it’s customers with the highest level of innovation and service.

2007/2/15 Huntsman

Huntsman to Sell U.S. Commodities Business to Flint Hills Resources
Sale Will Complete Final Step in Transformation to Differentiated Portfolio

Peter R. Huntsman, President and CEO of Huntsman Corporation, today announced that Huntsman has signed definitive documents with Flint Hills Resources, LLC, a wholly owned subsidiary of Koch Industries, Inc., for Flint Hills Resources to acquire Huntsman's U.S. Base Chemicals and Polymers business.

Huntsman is expected to realize a total value from the sale of approximately $761 million. Under the agreement, Flint Hills Resources will acquire the manufacturing assets of Huntsman's U.S. commodities business for $456 million in cash plus the value of inventory ($286 million at Dec. 31, 2006) on the date of closing. Huntsman will retain other elements of working capital, including accounts receivables, accounts payable and certain accrued liabilities (net, $19 million at Dec. 31, 2006), which will be liquidated for cash immediately following the closing.

The transaction includes Huntsman's olefins and polymers manufacturing assets located at five U.S. sites: Port Arthur, Odessa and Longview, Texas; Peru, Illinois; and Marysville, Michigan. The business employs about 900 associates. The captive ethylene unit at the retained Port Neches, Texas, site of Huntsman's Performance Products division is not included in the sale. This asset, along with a long-term post-closing arrangement for the supply of ethylene and propylene from Flint Hills to Huntsman, will continue to provide feedstock for Huntsman's downstream derivative units.

About Flint Hills Resources:

Flint Hills Resources is a leading producer of fuels, base oils for lubricants, and other petrochemical products, based in Wichita, Kan. It owns refineries in Alaska, Minnesota and Texas, a chemical intermediates plant near Joliet, Ill., pipelines, and an interest in Excel Paralubes in Westlake, La. The company produces pseudocumene at its Corpus Christi, Texas, facility, as well as other building-block chemicals such as metaxylene, orthoxylene, paraxylene, benzene, cumene and toluene. In Illinois, the company produces maleic anhydride, trimellitic anhydride and purified isophthalic acid.

Flint Hills Resources became an independent, wholly owned subsidiary of Koch Industries, Inc., in January, 2002 in order to focus on growth opportunities. This proposed acquisition is a direct result of that business mandate, and adds to assets acquired in 2003 and 2004.

Flint Hills Resources

Refining Business - Flint Hills Resources operates refining complexes in Alaska (North Pole), Minnesota (Pine Bend) and Texas (Corpus Christi) with a combined crude oil processing capacity of about 800,000 barrels of crude oil per day. These facilities are served by strategically located terminals and pipelines, some of which are operated by Koch Pipeline Company, L.P.

Canadian Businesses - Flint Hills Resources' interests in Canada include Calgary-based crude oil marketing, transportation and storage activities. These businesses are primarily focused on providing a supply of Canadian crude oil to the Pine Bend Refinery.

Chemicals - Flint Hills Resources is a leading producer of petrochemicals and related products, with primary manufacturing facilities at the Corpus Christi refining complex.
The company produces chemical intermediates -- used in the manufacture of items such as polyester resins and automotive, agricultural and consumer products -- from its plant near Joliet, Ill.

Corpus Christi, Texas, the petrochemicals facility produces about 4 billion pounds of building-block chemicals - such as paraxylene, orthoxylene, mixed xylene, benzene, cumene, toluene and pseudocumene - annually.
Joliet, Ill., facility, near Chicago, manufactures chemical intermediates, including purified isophthalic acid, maleic anhydride and trimellitic anhydride.

Base Oils - Flint Hills Resources markets Group II base oils - the primary feedstock in motor oil - from the Excel Paralubes facility in Westlake, La.

Crude Oil - Supply for the refineries is secured through crude oil purchasing offices located in Calgary and Houston.

Fuels Marketing - The company markets a full slate of petroleum products - gasoline, jet fuel, diesel, heating oil and others - including value-added fuels such as cleaner-burning gasolines and performance diesel fuels.

　

2007/4/30 Huntsman

Huntsman Scales Up Process to Convert a Biodiesel By-product to Propylene Glycol
Company Continues Sustainable Chemistry Initiative

Huntsman Corporation today announced a further step in its plan to commercialize a process for manufacturing propylene glycol from a renewable raw material, and will make it available for customer trials as early as next month.

The production of biodiesel from vegetable and seed oils creates the by-product glycerin, which then can be used to manufacture propylene glycol for the global market’s four-and-a-half billion pound annual demand for the material. Propylene glycol is used to de-ice commercial aircraft prior to take-off, and in the manufacture of construction materials, among other end uses.

Oct. 11, 2006 　Cargill　

Cargill to Lead Commercialization of Renewable Propylene Glycol from Glycerin

Cargill is leading efforts to commercialize a proprietary process for using glycerin -- an abundant, low cost co-product of biodiesel production -- as feedstock for a platform of biobased products, beginning with renewable propylene glycol (PG). Through a new company being formed, the venture will provide commercially competitive PG from renewable feedstocks manufactured in multiple geographies.

Biodiesel Magazine December 2006

Cargill makes plans for glycerin supply

Cargill, an experienced agricultural company but a relatively new biodiesel producer with a 37 MMgy(million gallons per year) plant in Iowa Falls, Iowa, announced plans to form a new company that will make a variety of bio-based products from glycerin, a by-product of transesterification. The name of the future company wasn't available at press time.

Cargill plans to commercialize a proprietary process that turns glycerin into propylene glycol (C3H8O2), a sweet, colorless, viscous, hygroscopic liquid used as an antifreeze, in brake fluid, and as a humectant in cosmetics and personal care items.

参考　Solvay、Dow、バイオディーゼル副生グリセリンを原料とするエピクロの生産

　　　　　Glycerin 　　C3H5(OH)3
　　　　　Epichlorohydrin　C3H5CLO
　　　　　Propylene Glycol　C3H8O2

31 May 2007 Huntsman

Huntsman Poised to Open New Polyetheramines Plant in Third Quarter
　　New Plant to Meet Growing Demand for JEFFAMINE® Product Line

Huntsman Corporation today announced mechanical completion of its first Asia Pacific polyetheramines plant. With this announcement, Huntsman expects to introduce feedstock to the plant in mid-June and be in commercial operation by the third quarter.

Huntsman and its engineering contractor, Jacobs Engineering, achieved mechanical completion of the 15,000 tonnes per annum JEFFAMINE® polyetheramines plant, after an 800,000 man-hour construction process, without a single lost time incident. Huntsman’s total investment in the project, located at Jurong Island, Singapore, is approximately US$40 million.

2007/6/14 Platts

Hunstman to take majority control of JV with BCI

Huntsman Corp and Basic Chemicals Industries Limited (BCI) have signed an agreement that will see Huntsman take over majority ownership of Arabian Polyol Company (APC), a joint venture between Huntsman and BCI, the companies announced Thursday. Majority control of the company was previously held by BCI.

The joint venture, which manufactures and sells MDI-based polyurethane systems in the Gulf countries, will assume a new name, Huntsman APC and will be based at a previously existing facility in Damman, Saudi Arabia. Financial terms of the transaction have not yet been disclosed.

Tamimi Group
http://www.altamimi.com/about.asp

The extraordinary development of Saudi Arabia to a modern nation from a desert kingdom in five decades is unrivaled. Throughout this period, in all areas of activity and at all levels, The Tamimi Group of Companies rose to the challenge to work in concert with foreign and local partners. Today the results of these efforts are everywhere in evidence - in commerce, in services, in industry, in manufacturing, in both the public and private sectors.

Basic chemical Industries
Tamimi Group has sizable shareholdings in Basic chemical Industries. BCI is a pioneer in private sector chemical manufacturing industry with an extensive stock of commodity and specialty chemicals.

BCI located in Dammam, Saudi-Arabia, is a producer and distributor of more than 600 chemical products in the inorganic and specialties segments (hydrochloric acid, adhesives, polyurethanes, water treatment, resins etc.). The Group has 400 employees and an annual turnover of $ 150 million. BCI was established in 1975 as a manufacturer of commodities and specialties chemicals for local Saudi and export markets.

Arabian Polyol Company (APC)
APC is a BCI subsidiary and a joint venture with Huntsman Corporation.
Commissioned in 1985, APC was the Kingdom‘s first manufacturer of polyurethane chemicals offering products for different levels of density including rigid, semi-rigid and soft foams.

Jun 19, 2007 Reuters

Huntsman eyes Clariant, Ciba takeovers

U.S. chemicals group Huntsman Corp. is keen on buying Swiss peers Clariant and Ciba, the head of Huntsman was quoted as saying, reinforcing the view either group may be taken over.

But Huntsman said he would not make a hostile offer.

"First, Clariant or single divisions must officially be for sale," Huntsman told the newspaper.

Ciba last year sold its Textile Effects unit to Huntsman for some 330 million Swiss francs ($266.1 million).

2007/7/2 Huntsman

Huntsman to Acquire Baroda Division of Metrochem Industries

Huntsman Corporation today announced that its Textiles Effects business has signed an agreement to acquire the Baroda division of Metrochem Industries Ltd for $46.5 million in cash. The division to be acquired by Huntsman is a textile dyes and intermediates manufacturer based in Baroda, India. The transaction, which is subject to regulatory approvals, is expected to close in January 2008.

2007/7/4 Huntsman

Huntsman Receives Merger Proposal From Hexion For $27.25 per Share in Cash

Huntsman Corporation announced today that it has received from Hexion Specialty Chemicals, Inc. ("Hexion"), an entity owned by an affiliate of Apollo Management, L.P., a proposal (the "Hexion Proposal") to acquire all of the outstanding common stock of Huntsman for $27.25 per share in cash.

　　　詳細及び解説

July 9, 2007 Hexion

Hexion Increases Offer for Huntsman Corporation to $28.00 Per Share

Hexion Specialty Chemicals Inc., an Apollo Management L.P. portfolio company, today announced that it has increased its definitive proposal to acquire Huntsman Corporation to $28.00 per share, in cash (transaction value $10.5 billion including debt), and has presented this proposal to the Huntsman Board of Directors and its Transaction Committee (comprised of independent Huntsman directors). The Huntsman Transaction Committee and the Board had previously determined that Hexion's proposal to acquire Huntsman for $27.25 per share, in cash constituted a Superior Proposal under the terms of the current merger agreement between Huntsman and Basell AF. Hexion's proposal is otherwise subject to the terms previously disclosed by Hexion and Huntsman. Until Huntsman's Board or Transaction Committee takes further action pursuant to the terms of the Basell agreement, it continues to recommend the transaction with Basell to its shareholders.

There can be no assurance that a transaction between Hexion and Huntsman will be agreed. Any such transaction would be subject to regulatory approvals and the affirmative vote of Huntsman's shareholders, as well as other customary conditions. Hexion's proposal is fully financed pursuant to commitments from affiliates of Credit Suisse and Deutsche Bank.

AFX News 　2007/7/12

Hexion confirms to buy Huntsman in 10.6 bln usd deal

Hexion Specialty Chemicals Inc, an Apollo Management LP portfolio company, said it has signed a definitive agreement to buy rival chemical company Huntsman Corp for 28.00 usd per share cash, or 10.6 bln usd, including 4 bln usd debt.

2007/7/12 Huntsman

Huntsman Agrees to Be Acquired By Hexion for $28.00 Per Share
Terminates Merger Agreement With Basell

Huntsman Corporation today announced that it has terminated the merger agreement with Basell AF ("Basell") dated June 26, 2007 (the "Basell Agreement") and has agreed to a definitive merger agreement (the "Hexion Agreement") with Hexion Specialty Chemicals, Inc. ("Hexion"), an Apollo Management, L.P. ("Apollo") portfolio company, pursuant to which Hexion will acquire Huntsman in a transaction with a total value of approximately $10.6 billion, including the assumption of debt (the "Hexion Transaction").

Huntsman's Board of Directors authorized the delivery of a notice of termination of the Basell Agreement, along with the payment of the $200 million break-up fee required by the Basell Agreement. Hexion funded $100 million of the Basell break-up fee while Huntsman funded the remaining $100 million.

2007/7/11 Basell

Basell reconfirms its offer for Huntsman

Basell, the global leader in polyolefins, confirmed that it will stand by its $25.25 a share offer for Huntsman Corporation (NYSE: HUN).

On June 26, 2007, Basell and Huntsman signed a merger agreement which valued Huntsman at a full and fair price, and offered certainty and the ability to close rapidly. The majority shareholders of Huntsman signed a voting agreement with Basell in support of the merger agreement.

Basell has since been notified by Huntsman that an offer by Hexion Specialty Chemicals Inc. is “superior” to Basell’s existing merger agreement. Under the terms of Basell’s agreement, Basell will be entitled to a $200 million payment if Huntsman terminates the Basell merger agreement to accept the Hexion offer.

Basell understands that the Hexion offer faces a lengthy and complex regulatory approval process and that closing the Hexion transaction will require many months and is subject to uncertainty. Basell will monitor the situation.

　

2007/7/12 Hexion

Hexion Specialty Chemicals, Inc. To Acquire Huntsman Corporation For $28.00 Per Share In Cash

Hexion Specialty Chemicals, Inc., an Apollo Management L.P. portfolio company, announced today the signing of a definitive agreement to acquire Huntsman Corporation in an all-cash transaction valued at approximately $10.6 billion, including the assumption of debt.

Joshua J. Harris, founding partner with Apollo Management L.P., said: "This acquisition will build Hexion into one of the world's largest specialty chemical companies. The combined enterprise will have annual sales of more than $14 billion and more than 21,000 associates and 180 facilities around the world. We are pleased to welcome the Huntsman team and look forward to building on their many accomplishments in the industry."

Platts 2007/7/19

Huntsman says enters alliance for Texas biodiesel plant

Huntsman said Thursday it entered an agreement with RBF Port Neches for the construction of a biodiesel plant to be located at an existing Huntsman facility in Port Neches, Texas.

Under the agreement, RBF will design, finance, build and own the new plant, which is to have an initial capacity of 89 million gal/year of biodiesel, with plans to expand to nearly 180 million gal/year of production, Huntsman said in a statement. The chemical giant would operate and maintain the plant, which is expected to come online in mid-2008. RBF would then be responsible for the marketing of the output of the plant.

2007/7/25 Huntsman

Huntsman Acquires Global Fluorochemical Product Line for Nonwovens from DuPont

Huntsman Corporation today announced that its Textiles Effects business has signed an agreement to acquire DuPont's global fluorochemical business for the nonwovens industry. The DuPont(TM) Zonyl(R) fluorochemical product line is used on nonwovens as effective repellents for water, alcohol and oil based fluids. Nonwoven textiles are primarily used in medical, filtration, automotive and construction applications.

Following a brief transition period to ensure a smooth handover and uninterrupted supply, Huntsman will assume responsibility for all future activities related to the business. The transaction with DuPont includes a long-term supply agreement for finished products and intermediates, but does not include the transfer of DuPont employees or the sale of DuPont manufacturing assets. The parties also entered into a joint development agreement to bring new innovations to the nonwovens marketplace.

Aug 01, 2007 Huntsman 　　　　　Huntsman to Sell U.S. Commodities Business to Flint Hills Resources

Huntsman And Flint Hills Resources Close On Sale Of U.S. Polymers Business
Sale of Port Arthur Base Chemicals Business to Close upon Plant Restart

Peter R. Huntsman, President and CEO of Huntsman Corporation, today announced that Huntsman and Flint Hills Resources, LP, an independent, wholly owned subsidiary of Koch Industries, Inc., have closed on the sale of Huntsman’s U.S. Polymers business. The parties will close on the sale of Huntsman’s remaining U.S. Base Chemicals business upon the restart of Huntsman’s Port Arthur, Texas, olefins manufacturing facility, commissioning of which is expected to occur later this year.

Included in the closing announced today are Huntsman’s manufacturing assets located at four U.S. sites: Odessa and Longview, Texas; Peru, Illinois; and Marysville, Michigan. Huntsman’s amorphous polyalphaolefin (or APAO) products, which Flint Hills will manufacture for Huntsman at the Odessa site under a long-term supply arrangement, are not included in the sale.

Platts 2007/8/29

Huntsman to restart Port Arthur in October, complete sale to FHR

Huntman's Port Arthur, TX olefins plant was due to come back online in early October, a company source reported Wednesday. With the restart, the ownership of Huntsman's base chemical business would be transferred to Flint Hills Resources.

The 1.36-billion lb/yr plant had been down since late April 2006 following an explosion at the site. The acquisition by Flint Hills had been subject to the plant being declared operational.

Nov 05 2007 Huntsman

Huntsman and Flint Hills Resources Close On Sale of Base Chemicals Business
Sale Completed Upon Port Arthur Plant Restart

Peter R. Huntsman, President and CEO of Huntsman Corporation (NYSE: HUN), today announced that Huntsman and Flint Hills Resources, LP, an independent, wholly owned subsidiary of Koch Industries, Inc., have closed on the sale of Huntsman’s Base Chemicals business.

The sale of the Base Chemicals business is the second closing in a two-part transaction valued in total at approximately $770 million. The parties had previously closed on the sale of Huntsman’s U.S. Polymers business in August.

2008/2/25 Huntsman

Huntsman Commences Design and Feasibility Studies to Expand its Global MDI Manufacturing Capacity

2008/1/25

Hexion and Huntsman agree to FTC request to extend review time for proposed merger to May 3, 2008.

Huntsman Corporation announced today that it has commenced design and feasibility studies to increase its global capacity for the manufacture of methylene diphenyl diisocyanate (MDI) through investment in a new, world scale MDI plant at its site in Rozenburg, the Netherlands.

Feasibility studies, including preliminary engineering for the new unit, are now underway and a final investment decision is expected during 2008, with the new 400,000 metric tons capacity unit coming on-stream by mid-2011. The final plan may also incorporate the closure of older, less efficient capacity in Europe.

Pursuant to the studies, Huntsman also intends to expand its MDI and downstream asset capacity in all three major regions through the deployment of new proprietary technologies in aniline, methylene dianiline (MDA) and MDI production, which will both increase raw material yields and improve energy efficiency by up to 40%, as compared with previous generation technology.

2008/4/1 Huntsman 　　　　　　　　　HuntsmanのサウジInternational Diol Company 計画（Maleic Anhydride技術供与）

Huntsman Joint Venture To Pursue Major Maleic Anhydride Expansion In Germany

Sasol-Huntsman GmbH & Co. KG, a 50/50 joint venture between affiliates of Huntsman Corporation and Sasol Limited located in Moers, Germany, today announced plans to pursue the expansion of its maleic anhydride manufacturing capacity by 45,000 mt. The new capacity, which is expected to be on-line in first quarter 2011, will increase Sasol-Huntsman´s production capacity by 75%, to 105,000 mt. The expansion will be funded by the joint venture’s internal cash flow and its non-recourse financing.

The new plant’s design is similar to Huntsman’s 45 kt plant under construction in Geismar (USA), which is expected to be operational in late 2008.

2008/6/18 Hexion

Hexion files suit alleging that transaction with Huntsman is no longer viable
Combined Company Determined to be Insolvent

Hexion Specialty Chemicals, Inc. (“Hexion”) announced today that it and related entities have filed suit in the Delaware Court of Chancery to declare its contractual rights with respect to its $10.6 billion merger agreement with Huntsman Corporation (“Huntsman”). Hexion said in the suit that it believes that the capital structure agreed to by Huntsman and Hexion for the combined company is no longer viable because of Huntsman’s increased net debt and its lower than expected earnings. While both companies individually are solvent, Hexion believes that consummating the merger on the basis of the capital structure agreed to with Huntsman would render the combined company insolvent.

2008/6/19 Huntsman

Huntsman Rejects Apollo Attempt to Back Out of Merger Agreement

Huntsman Corporation today commented on yesterday’s lawsuit by Hexion Specialty Chemicals and Apollo in which they claim they would not be required to consummate the Merger Agreement.

Peter Huntsman, President and CEO stated, “We believe Hexion and Apollo’s actions are inconsistent with the terms of the Merger Agreement and the obligations to Huntsman and its shareholders. These actions appear to be a blatant attempt to deprive our shareholders of the benefits of the Merger Agreement that was agreed to nearly a year ago.”

Huntsman intends to vigorously enforce all of its rights under the Merger Agreement and seek to consummate the merger on the agreed terms.

NYT 2008/6/23

Huntsman Sues Apollo and Its Top Executives Over Hexion Deal

The gloves are off in the Huntsman-Hexion Specialty Chemicals dispute.

In an expected move, Huntsman on Monday sued its now-reluctant acquirer’s parent, Apollo Management, and two of the private equity firm’s founders, accusing them of tortiously interfering in the $10.6 billion merger of the two chemical makers. The lawsuit, filed in Texas state court, is the latest salvo in one of the few deals remaining from the buyout boom of last year.

Huntsman is claiming that in besting a rival offer from Basell, an industrial conglomerate, Apollo made a promise it did not intend to keep. The Texas-based chemical maker argued that the private equity firm is seeking to renegotiate a lower price.

In its complaint, Huntsman said that it is seeking $3 billion in damages and $100 million to cover its breakup fee payable to Basell. Huntsman is also seeking unspecified damages related to its business and its value.

2008/7/1 Huntsman

European Commission Approves Merger With Hexion

Huntsman Corporation today announced that the European Commission has approved the proposed merger between Hexion and Huntsman contingent on, among other things, divestment of a portion of Hexion’s global specialty epoxy resins business to a purchaser approved by the European Commission.

Peter Huntsman, President and CEO, stated, “We believe this step ratifies our view that regulatory approval for our transaction can move forward and repeat our request that Hexion promptly move to fully comply with the European Commission’s conditions for approval and take any and all other actions necessary to obtain all required regulatory approvals, including from the FTC.”

2008/8/29 Huntsman

Huntsman Shareholders Offer Capital On Merger Closing

Huntsman Corporation announced that it received notice of an independent shareholder initiative to invest at least $500 million in Hexion on the closing of the merger between Hexion and Huntsman Corporation. The Huntsman family has indicated its expectation to join the shareholder initiative by providing a portion of the $500 million.
As previously stated, Huntsman’s shareholders are entitled to their $28 per share and 8% ticking fee. We are gratified by the confidence in the merged company expressed in this shareholder initiative. However, Huntsman management firmly believes that the combination of Hexion and Huntsman Corporation will be solvent.

A trial on whether Hexion can abandon its proposed acquisition is scheduled to begin in Delaware Sept. 8.

In an effort seemingly aimed at prodding Hexion to drop its objection to completing the merger before the trial begins, Huntsman investors that included Citadel Investment Group, D.E. Shaw & Co., Matlin Patterson Global Advisors and Pentwater Growth Capital Management proposed loaning the Ohio-based chemical maker at least $500 million to help it finance the acquisition.
And if some conditions are met, the loan wouldn't have to be repaid.
"This financing serves the dual purpose of enhancing what we believe is your already reasonable rate of return and facilitating a mutually beneficial resolution of the current disagreement between you and Huntsman," the investors wrote in a proposal letter filed Thursday with the U.S. Securities and Exchange Commission.
Those investors indicated they would commit $245 million and that the Huntsman family was expected to commit $186 million. Another $69 million would come from other large stockholders, according to the proposal.

nyt 2008/8/28

In a letter sent to Hexion and Apollo on Thursday, the shareholders - including Citadel Investment Management and D. E. Shaw - offered to provide additional financing to help persuade Apollo to close the deal.

The plan involves the use of contingent value rights, financial instruments that would guarantee repayment only if a combined Huntsman-Hexion met certain financial performance targets. If the new company failed to meet those expectations, the investor group would not be repaid.

Though the investors’ said that they are making the offer independently of Huntsman, the group said that trusts for the eponymous Huntsman family have agreed to contribute about $186 million of the proposed financing.

Driving the investors’ proposal is the severe slide in Huntsman’s stock price since June, when the deal began to founder. Huntsman’s shares have fallen more than 41 percent over the last three months, closing Thursday at $13.10.

Other members of the investor group include the private equity firm MatlinPatterson, which helped prod Huntsman to sell itself last year, and the hedge fund Pentwater Capital.

In a statement issued late Thursday, Hexion said that it is interested only in terminating the deal.

2008/8/28 Hexion

Hexion comments on proposal by Huntsman shareholders

Hexion Specialty Chemicals, Inc. today issued the following statement in response to a Report on Schedule 13D filed by several shareholders of Huntsman Corporation with the Securities and Exchange Commission, in which they propose an alternative transaction for the combination of Hexion and Huntsman.

“While we appreciate the efforts of these shareholders, due to the dramatic increase in Huntsman’s net debt and decrease in its earnings since last July, their proposal does not come close to making the combined company solvent. Huntsman’s shareholders lack this information because Huntsman has, despite our repeated requests for more than two months, refused to permit its shareholders to review our Delaware complaint and the Duff & Phelps solvency analysis. If this information were made public, Huntsman shareholders would understand that this proposal is inadequate. Furthermore, the proposal is for incremental, not alternative debt financing, as specified under the merger agreement.
We are not seeking to renegotiate this transaction. We are seeking to terminate it, and obtain judicial confirmation that Hexion has no obligation to pursue the acquisition or to pay Huntsman a termination fee.”

2008/9/30 Huntsman

Huntsman Obtains Temporary Restraining Order Against Credit Suisse and Deutsche Bank : Court Orders Banks to Not Impair or Terminate Merger Financing Prior to a Full Hearing

This afternoon, District Judge Fred Edwards of the Montgomery County Texas District Court awarded a Temporary Restraining Order in favor of Huntsman. Judge Edwards found that irreparable harm would result if the Banks were not immediately enjoined from terminating their financing commitment pending a full hearing on Huntsman's request for a temporary injunction. Accordingly, Judge Edwards ordered that the Banks, among other things, must not take any action that could reasonably be expected to materially impair, delay, terminate, or prevent consummation of the financing contemplated by the agreement between the Banks and Hexion.

2008/9/30 Forbes

Huntsman All But Wins Fight

Hexion may have billionaire Leon Black, but Huntsman has the law on its side.

On Tuesday, shares of chemical maker Huntsman soared 71.7%, or $5.27, to $12.62, in late-afternoon trading, after the Delaware Court of Chancery in Wilmington rejected Black's Apollo Management and its unit Hexion Specialty Chemicals' attempt to pull out of its $10.6 billion deal to acquire Huntsman.

In his ruling, Judge Stephen Lamb said if the deal did not close by Oct. 1, the termination date for the merger would be extended until the court determined that Apollo and Hexion had complied with the order.

That's not to say Hexion has to close the deal. The judge said if the company refuses to close, it would be liable to Huntsman for damages not capped by the $325.0 million break-up fee.

Huntsman said that in addition to denying the relief sought by Apollo and Hexion, the court also found that Hexion had breached a number of obligations and covenants under the merger agreement. Huntsman said it continued to seek damages exceeding $3.0 billion in its Texas lawsuit against Apollo and its partners Leon Black and Joshua Harris.