European Commission Approves Merger With Hexion
Tuesday July 1, 8:49 am ET
THE WOODLANDS, Texas, July 1 /PRNewswire-FirstCall/ -- 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."
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman today has 13,000 employees and operates from multiple locations worldwide. The company had 2007 revenues of approximately $10 billion.
Source: Huntsman Corporation
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