Huntsman buys remaining ownership in Russian JV
Huntsman acquires remaining ownership stake in Russian Joint venture, shares rise
THE WOODLANDS, Texas (AP) -- Chemical maker Huntsman Corp. said Tuesday that it acquired the remaining ownership of its Russian joint venture Huntsman NMG, giving it full ownership of the company.
Financial terms were not disclosed.
Huntsman NMG supplies polyurethane systems to the adhesives, coatings and footwear markets in Russia, Ukraine and Belarus.
The Salt Lake City-based company said that Russian demand for the products is poised for growth and the investment will give the company greater access to its markets.
Huntsman shares rose 63 cents, or 5 percent, to $13.21 in midday trading.
