The acquisitions process of CVC Thermoset Specialties to Huntsman Corporation from Emerald Performance Materials, LLC has been finalized. CVC Thermoset is a North American speciality chemical manufacturer with high specialization in toughening, curing and other additives serving the industrial composites, adhesives and coating markets. The acquisitions are estimated to be worth around $300 million and the all-cash transaction was funded from available liquidity. The annual company revenues are roughing around $115 million. Two manufacturing facilities supporting the productions are located in Akron, Ohio and Maple Shade, New Jersey owned by the company.
The CVC Thermoset products are aimed at enhanced product durability and flexibility against impact, chemical, and thermal crack in harsh environments. Product applications are seen in electronics, infrastructure, vehicles, and aircraft to make the end products lighter, stronger and more durable. Scott Wright, President of Huntsman's Advanced Materials division, commented that the acquisitions also utilize the existing asset to broader market such as Europe and Asia.
