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Huntsman acquires Lockwood titanium dioxide business

Huntsman acquires Lockwood titanium dioxide business

September 30, 2013

[China paint information] American Chemical giants huntsman and Lockwood recently announced that Huntsman will spend $1.33 billion to acquire Lockwood's titanium dioxide pigments and other additives business, while bearing the acquiree's pension debt of about $225million. Other businesses in this transaction include pigments and services, wood treatment chemicals, rubber and thermoplastic composites, and water treatment chemicals. Huntsman said the deal was expected to be completed in the first half of 2014. The acquisition will make Huntsman the world's second largest titanium dioxide manufacturer after DuPont, with tray devices and alarm devices accounting for 16% of the global production capacity. Huntsman plans to conduct an initial public offering of the newly merged pigment business within two years after the completion of the transaction. The following is an explanation of these two words (IPO wear performance test) for trading and listing

Huntsman predicts that this transaction will immediately increase profits, which will save us $130million a year by the end of 2015. It is expected that the profit growth in 2014 will reach 60 cents/share. The company also expects that the global demand for titanium dioxide will continue to recover during this period

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