Huntsman acquires Turkish systems house
MDI-based polyurethanes systems house EMA Kimya Sistemleri Sanayi ve Ticaret AS in Istanbul, Turkey has been acquired by Huntsman Corporation. EMA will become part of the company’s polyurethanes division and known as Huntsman-EMA. EMAs’ two major shareholders Gulum Kabil and Engin Tataroglu will continue to manage the business operations.
EMA’s plant was built in 2006 to produce polyurethane blends for Turkey’s fastgrowing MDI systems market. Today, the facilities have capacity for system blending, polyester polyols manufacture and bulk MDI and base polyols storage.
“We are delighted to announce the acquisition of EMA,” comments Nick Webster, vice president of Huntsman Polyurethanes. “We have great respect for what the company’s management team has achieved in the Turkish chemical industry and think the EMA business is a great fit with our own. Integrating this business into our polyurethanes portfolio is part of a global strategy to strengthen our presence in markets where economic growth favors polyurethanes consumption.
“In 2010 Turkey’s MDI systems market grew at a rate of 13-15% per annum. This development brings strong opportunities in the rigids systems market and we look forward to working with the existing team to boost sales capabilities in expanding regional insulation, automotive, adhesives, coatings, elastomers and furniture industries.
“EMA has been a successful and wellmanaged company since it was established,” comment Gulum Kabil and Engin Tataroglu.
“We have built strong customer relationships based on mutual respect and understanding. We warmly welcome the opportunities that will come as part of a global corporation. This is an exciting development for our business, our customers and for the Turkish polyurethanes industry as a whole.”
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