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Huntsman Corporation

#3371

Rank

$3.5B

Marketcap

US United States

Country

Huntsman Corporation
Leadership team

Mr. Peter R. Huntsman (Chairman, Pres & CEO)

Mr. Philip M. Lister ACMA (Exec. VP & CFO)

Mr. R. Wade Rogers (Sr. VP of Global HR & Chief Compliance Officer)

Products/ Services
Agriculture, Automotive, Chemical, Chemical Engineering, Construction, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
The Woodlands, Texas, United States
Established
1970
Company Registration
SEC CIK number: 0001307954
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
HUN
Social Media
Overview
Location
Summary
Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products. The Performance Products segment manufactures amines and maleic anhydrides, including ethylene oxide, propylene oxide, glycols, ethylene dichloride, caustic soda, ammonia, hydrogen, methylamines, and acrylonitrile. The Advanced Materials segment offers epoxy, acrylic, polyurethane, and acrylonitrile-butadiene-based polymer formulations; high performance thermoset resins, curing agents and toughening agents, and carbon nanotubes additives; and base liquid and solid resins. The Textile Effects segment provides textile chemicals and dyes. The company's products are used in a range of applications, including adhesives, aerospace, automotive, construction products, durable and non-durable consumer products, electronics, insulation, medical, packaging, coatings and construction, power generation, refining, synthetic fiber, textile chemicals, and dye industries. Huntsman Corporation was founded in 1970 and is headquartered in The Woodlands, Texas.
History

The Huntsman Corporation was initially founded as the Huntsman Container Corporation in 1970 by Alonzo Blaine Huntsman Jr. and his younger brother Jon Huntsman, Sr. It went public as the Huntsman Corporation on the New York Stock Exchange NYSE: HUN in February 2005. Huntsman has grown through a series of acquisitions and today is a manufacturer and marketer of differentiated and specialty chemical products.

In April 1994, Huntsman acquired the Texaco Chemical company for $1.1 billion. Texaco Inc. agreed to sell its last remaining petrochemicals plant to Huntsman in 1999 for about $600 million.The Huntsman Corporation became the then third-largest petrochemical business in the United States when in 1999, it acquired Imperial Chemical Industries' polyurethanes, titanium dioxide, aromatics and petrochemical global businesses for $2.8 billion.Huntsman also acquired the Performance Additives and Titanium Dioxide businesses of Rockwood Holdings, Inc. on October 1, 2014, to become the largest color and white pigments company in the world. Huntsman paid approximately $1 billion in cash and assumed certain unfunded European pension liabilities.

Huntsman Building Solutions Created

Huntsman named its spray polyurethane foam business as Huntsman Building Solutions in May, 2020. The SPF business was formed when Huntsman acquired leading North American SPF company Icynene-Lapolla in February 2020 and combined it with Demilec, which Huntsman acquired in 2018. Huntsman is now the fifth largest insulation manufacturer in the world.

Proposed Merger of Equals: HuntsmanClariant

In May 2017, Huntsman and Clariant announced that they would merge, as equals, forming HuntsmanClariant which would be the global leader in speciality chemical production - with the deal valued at $20 billion. Clariant shareholders would own 52% of the new entity, with Huntsman shareholders owning the remaining 48% of shares.The merger agreement was terminated on October 27, 2017.

IPO of Venator

Huntsman Corporation spun-off its Pigments and Additives division as Venator Materials in an initial public offering on August 8, 2017.Venator became the owner of Huntsman's Titanium Dioxide and Performance Additives businesses, which offers products comprising a broad range of pigments and additives that add performance and color to many everyday items. Venator is a global company with more than 4,300 employees across 27 facilities in more than 10 countries.

Terminated Takeover by Access Industries

In June 2007, it was announced that Huntsman had agreed to be acquired by Access Industries, owned by the billionaire Len Blavatnik, for $5.88 billion in cash. Huntsman shareholders would receive $25.25 a share from Access Industries' chemical unit, Basell Holdings, based in Hoofddorp, Netherlands. Access would assume $3.7 billion of Huntsman debt.

However, on July 12, 2007, the agreement was terminated as Huntsman agreed to be bought by Apollo Management for $6.51 billion or $28 a share. Huntsman filed a suit against Apollo Management and its two partners in Texas after the group backed out of the deal to purchase the chemical company. The suit alleged fraud against Apollo Management as Huntsman believed that the group never intended to allow its Hexion Specialty Chemicals unit to buy Huntsman Corp. for $6.5 billion. Huntsman also claimed Apollo put forth a higher bid to prevent the Basell AF buyout as it would have threatened Hexion's market share. Hexion stated Huntsman's declining financial position as the reason the deal was terminated. Upon termination of the Hexion merger agreement, the Huntsman stock value dropped by almost 50%.

In December 2008, Apollo and Hexion agreed to pay Huntsman $1.1 billion in return for Huntsman dropping all charges against them. This includes $500 million in cash, a $250 million investment in Huntsman, and an additional $425 million in cash, repayable by separate suits against Credit Suisse.

Starboard stake

Activist hedge fund Starboard disclosed a stake in the company in 2021. The hedge fund owns more than 8% of Huntsman, roughly $500 million worth. Starboard did not succeed in gaining seats on the company's board, one of its goals.

Mission
We will operate safe, clean, efficient facilities in an environmentally and socially responsible manner.We will provide a work environment that fosters teamwork, innovation, accountability and open communication. We will place into society assistance for those who suffer, hope for those who may need inspiration and education for those who may feel the challenge but do not have the means.We have an aggressive growth philosophy that reflects the spirit of free enterprise and maximization of long- term profits and the best motives for creating mutual benefits for customers, employees, suppliers and the communities in which we are located.
Vision
Our vision is to be the world’s premier chemistries company.
Key Team

Mr. David M. Stryker (Exec. VP, Gen. Counsel & Sec.)

Mr. John Calder (Director of Investor Relations)

Mr. Anthony P. Hankins (Division Pres of Polyurethanes & CEO of Asia-Pacific)

Mr. Ivan Mathew Marcuse (VP of Investor Relations)

Ms. Twila M. Day (VP & Chief Information Officer)

Mr. Brian V. Ridd (Sr. VP of Purchasing)

Mr. Ronald W. Gerrard (Sr. VP of Environmental, Health & Safety and Manufacturing Excellence)

Recognition and Awards
Huntsman Corporation has been recognized by a variety of professional organizations and magazines for its excellence in operations, sustainability, and enterprise excellence.
References
Huntsman Corporation
Leadership team

Mr. Peter R. Huntsman (Chairman, Pres & CEO)

Mr. Philip M. Lister ACMA (Exec. VP & CFO)

Mr. R. Wade Rogers (Sr. VP of Global HR & Chief Compliance Officer)

Products/ Services
Agriculture, Automotive, Chemical, Chemical Engineering, Construction, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
The Woodlands, Texas, United States
Established
1970
Company Registration
SEC CIK number: 0001307954
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
HUN
Social Media