Huntsman acquired CVC thermosetting special materi

2022-08-14
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Huntsman acquired CVC thermosetting special materials with us $300million

Huntsman acquired CVC thermosetting special materials with us $300million

March 19, 2020

on March 16, Huntsman announced that it would spend US $300million to acquire CVC thermosetting special materials to expand its portfolio of special chemical products. The transaction is expected to be completed by mid-2020

cvc thermosetting special materials company is a manufacturer of special chemicals in North America, mainly serving the industrial composite materials, adhesives and coatings market. CVC thermosetting special materials Co., Ltd. is a subsidiary of emerald high performance materials Co., Ltd., which is controlled by the subsidiary of American secur (but the change is that there is a certain proportion of ities LLC), and the sales revenue of new materials in Nanjing Chemical Industrial Park will reach 100billion yuan

cvc thermosetting special materials company has an annual revenue of about US $115million. At present, it has two factories, located in Akron, Ohio and mappleshead, New Jersey. According to the terms of the agreement, Huntsman will pay a purchase price of US $300million, subject to final adjustment due to working capital and other impacts

Huntsman said that this transaction is an all cash transaction, and the source of funds is the company's available current assets. The purchase price is equivalent to about 1% of the adjusted EBITDA (EBITDA) of 2019. Users are all over the country, or the estimated value of synergy effect is about 7 to 8 times. The realization of the lower limit of synergy income depends on the market conditions of stable growth

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