Huntsman Corp. (NYSE: HUN) is buying Oxid LP, a manufacturing company.
Oxid, headquartered in Houston, Texas, manufactures polyurethane insulation products used in residential and commercial construction. The products are sold under the Terol brand. Terms of the deal are not disclosed.
The deal is expected to close during the third quarter.
“As growth in the U.S. housing and construction markets gathers pace, we aim to leverage the significant benefits of MDI polyurethanes insulation and this acquisition will strengthen our position considerably,” says Huntsman president Anthony Hankins.
Huntsman, headquartered in the Woodlands, Texas, manufactures and markets chemicals for the plastics, automotive, aviation, textiles, footwear, paints, construction, technology, agriculture, health care, personal care and other industries.
For more on the construction industry, see "Kelso's Sale of Custom Building Products Underscores Resurgence in Real Estate M&A." For more on real estate, see "Beyond Location."