Huntsman to acquire majority stake in PUR-Systems


Huntsman Corporation announced that it has signed a memorandum of understanding to acquire a 70 percent majority shareholding in PUR-Systems GmbH & Co. KG, the German polyurethanes company. PUR-Systems will continue to operate under its existing name and will manufacture and sell products in the wider European market. The financial terms were not disclosed but PUR-Systems has an annual turnover of about EUR 50 million.

Nick Webster, Vice President of Huntsman's Polyurethanes division in Europe said that "We are delighted that we will have PUR-Systems as our partner as they are well known for their excellent and committed team, modern and very well equipped facilities and highly flexible distribution and logistics."

PUR-Systems will continue to be based at the existing site in Georgsmarienhütte near Osnabrück.

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