American chemicals major Huntsman Corporation has taken over Gujarat-based chemicals producer Laffans Petrochemicals, and has also taken the ownership of the company’s 60 kilo tonne ethylene oxide derivatives facility at Ankleshwar. The $9-billion Woodlands, Texas-based Huntsman is a global manufacturer and marketer of differentiated chemicals to industries such as chemicals, plastics, automotive, aviation, among others.
Huntsman India has its facilities at Navi Mumbai and has been having a technical collaboration with Laffans for the past two years. India contributes to a little over 3% of its global revenue of $9.2 billion in 2010. Laffans set up in 1994 to manufacture ethylene oxide derivatives had revenues in excess of $50 million in 2010.
