Company News
December 1, 2025
Huntsman European MDI Outage
Huntsman’s MDI Outage in the Netherlands Tightens Supply in Europe and the Middle East
PUdaily | Updated: November 28, 2025
According to overseas market sources, Huntsman’s 280,000 t/year MDI unit in Rozenburg, the Netherlands, was shut down around November 21 due to an unexpected equipment issue and is now undergoing maintenance, with the outage expected to last for at least one month. Meanwhile, its other 160,000 t/year unit is operating at normal rates.
In response, polymeric MDI prices in Europe and the Middle East have already moved higher, rising by approximately EUR 100/ton. Market participants note that the tight supply situation is likely to persist through mid-December or even toward year-end, with buyers becoming more cautious while suppliers show a stronger inclination to maintain firm offers.
Overall, Huntsman’s unexpected outage has added further strain to an already fragile MDI market in Europe. The market outlook will largely depend on the progress of the unit’s restart and the production strategies of other major suppliers in the region.
https://www.pudaily.com/Home/NewsDetails/60627
Huntsman Updates Fourth Quarter 2025 Outlook
Download as PDFDecember 01, 2025 4:15pm EST
THE WOODLANDS, Texas, Dec. 1, 2025 /PRNewswire/ — Huntsman Corporation (NYSE: HUN) is currently experiencing an unplanned outage at its Polyurethanes facility located in Rotterdam, Netherlands which will likely have a negative impact on fourth quarter 2025 adjusted EBITDA of approximately $10 million. The larger of the two MDI lines at the facility is impacted and is expected to resume production by mid-December. As a result of the outage, Management currently expects the fourth quarter 2025 adjusted EBITDA to be at the low end of the $25 million to $50 million range communicated on November 6, 2025. Excluding the outage the quarter is trending as previously expected.
https://www.huntsman.com/news/media-releases/detail/615/huntsman-updates-fourth-quarter-2025-outlook
December 1, 2025
Somnigroup Makes Offer to Leggett & Platt
Somnigroup Proposes to Acquire Leggett & Platt in All-Stock Transaction
Provided by PR Newswire Dec 1, 2025, 6:30:00 AM
Somnigroup Proposes to Acquire Leggett & Platt in All-Stock Transaction
Somnigroup Proposes to Acquire Leggett & Platt in All-Stock Transaction
PR Newswire
DALLAS, Dec. 1, 2025
- Proposal represents 30.3% premium to the average closing price of Leggett & Platt’s shares during the last 30 trading days
- Combination would provide Leggett & Platt shareholders with significant premium and opportunity to participate in combined company growth
DALLAS, Dec. 1, 2025 /PRNewswire/ — Somnigroup International Inc. (NYSE: SGI, “Company” or “Somnigroup”) today announced that it submitted a proposal to the Board of Directors of Leggett & Platt Inc. (NYSE: LEG) to acquire all outstanding common shares of Leggett & Platt in an all-stock transaction (the “Proposal”). Under the terms of the Proposal, Leggett & Platt shareholders would receive shares of Somnigroup common stock with a market value of $12.00 for every one share of Leggett & Platt common stock, based on a fixed exchange ratio to be agreed. The Proposal offers Leggett & Platt shareholders a 30.3% premium to the average closing price of Leggett & Platt’s shares during the last 30 trading days, representing a value not achieved by LEG shares since December 2024.
The all-stock structure would enable Leggett & Platt shareholders to participate in the future growth potential of the combined company on a tax-deferred basis.
“Leggett & Platt has been an important supplier to our Company for many years,” said Scott Thompson, Chairman and CEO of Somnigroup. “This proposal would deliver significant value to Leggett & Platt shareholders through a compelling premium and tax-advantaged participation in our combined platform, while also being accretive before synergies to all Somnigroup shareholders.”
The Proposal was delivered to the Leggett & Platt Board in a letter on December 1, 2025. The full text of the letter is included below:
###
December 1, 2025
Board of Directors
Leggett & Platt Incorporated
1 Leggett Road
Carthage, Missouri 64836
Attention: Mr. Karl G. Glassman, Board Chairman, President and Chief Executive Officer
Dear Karl and Members of the Board:
I am writing to express our strong interest in pursuing a business combination transaction between Somnigroup International Inc. (“Somnigroup”) and Leggett & Platt Incorporated (“Leggett & Platt”).
We propose that Somnigroup acquire all of the outstanding shares of Leggett & Platt in an all-stock merger with a wholly owned subsidiary of Somnigroup, in which each outstanding share of Leggett & Platt common stock would be exchanged for shares of Somnigroup common stock having a market value of $12.00, based on a fixed exchange ratio to be agreed.
Our proposed merger consideration represents a premium of approximately 17.0% to the closing price of Leggett & Platt shares on November 28, 2025, and a premium of approximately 30.3% over the average closing price of Leggett & Platt shares during the last 30 trading days – a value that Leggett & Platt shareholders have not seen since December 2024.
In addition, by receiving consideration comprised entirely of Somnigroup common stock, your shareholders will have the opportunity to participate fully on a tax-deferred basis in the significant growth potential and synergies of the combined company.
We believe that a combination of Leggett & Platt with Somnigroup would be uniquely compelling for both companies and all of our collective stakeholders. Joining Leggett & Platt with a leading bedding manufacturer and bedding retailer would unquestionably foster significant strategic advantages and efficiencies for the combined company. Also, as you know, Somnigroup and Leggett & Platt have enjoyed an excellent commercial arrangement for many years. A significant mutual benefit of our proposal would be to ensure that this arrangement will continue without interruption.
Leggett & Platt would continue to operate independently under the Somnigroup umbrella. Like Mattress Firm, Tempur Sealy and Dreams, Leggett & Platt’s leadership team would enjoy significant autonomy. Leggett & Platt would also benefit from having a substantial and reliable customer in Tempur Sealy and greater opportunities for growth and success, all with a lower cost of capital and the strategic backing of Somnigroup.
Additionally, because Leggett & Platt’s business is complementary to Somnigroup’s businesses, we would expect to not only retain most of Leggett & Platt’s management team and employees, whose knowledge, experience and talent would be invaluable to the Somnigroup organization, but also provide them future career opportunities in the broader Somnigroup organization. We also expect to retain a significant presence in Carthage.
We contemplate that our transaction would be subject only to customary closing conditions, including the receipt of necessary regulatory approvals, which we expect would be obtained without difficulty or delay. Our transaction would not be subject to any financing contingency or require approval by Somnigroup’s shareholders.
Our proposal has been unanimously authorized by our Board of Directors. Based on our long history with Leggett & Platt, we would expect to be able to promptly complete confirmatory due diligence and execute definitive agreements.
Our financial advisors are Goldman Sachs & Co. LLC and our legal advisors are Cleary Gottlieb Steen & Hamilton LLP.
This proposal is subject to satisfactory completion of due diligence, the negotiation and execution of definitive transaction documents, and approval by the boards of directors of both companies. Unless and until such time, no obligation, commitment or undertaking of any kind shall arise as a result of this letter or any subsequent discussions.
We believe this is a unique opportunity to deliver significant value to Leggett & Platt shareholders and better position a combined company to drive future shareholder value. We seek to work with you on a friendly basis to complete this transaction successfully and expeditiously.
We hope that you share our enthusiasm and we would appreciate a response by December 22, 2025.
Sincerely,
Scott L. Thompson
President, Chief Executive Officer and Chairman of the Board
###
November 30, 2025
Recticel Acquisition Stake
Recticel acquires Miclar Group to deliver integrated
solutions in the insulated panels market
Recticel announces the acquisition of a 76% controlling stake in Miclar Group, a leading Belgian
specialist in industrial façade and roof cladding, light structural steel, and finishing components. This
strategic move enhances service to our end customers and reinforces Recticel’s position in the insulated
panels market. The investment is fully aligned with our commitment to delivering innovative products
and integrated solutions across Europe.
Founded in May 2018, Miclar offers complete solutions for industrial façade and roof cladding. It
operates in Belgium, the Netherlands, France and Sweden. In 2024, Miclar Group reported proforma
sales of EUR 23.7 million and adjusted EBITDA of EUR 4.7 million.
The acquisition was paid in cash for an enterprise value of EUR 20.5 million. Miclar Group will be
consolidated in Recticel’s financial statements as from 1 December 2025.
Jan Vergote, Chief Executive Officer Recticel Group, commented:
“Miclar’s rapid growth and service-driven approach make it an ideal partner for Recticel’s industrial
customers. Together, we will deliver innovative solutions that address the evolving needs of industrial
construction in Belgium and beyond. As part of our “Elevate 2030” strategic plan, we are pursuing
additional acquisitions in Europe to enlarge our downstream offer.”
Laurens Couckuyt, Chief Executive Officer Miclar, added:
“The partnership with Recticel will enable us to accelerate innovation, expand our capabilities, and
deliver even greater value to our customers. It will serve as a springboard for our European expansion.
We look forward to combining our expertise with Recticel’s vision for sustainable growth and smart
insulation.”
https://files.webdisclosure.com/1374577/20251128_Acquisition_Miclar_final.pdf
November 24, 2025
Future Foam Buys CA Plant
Foam Maker Buys $145M Fullerton Plant
By
Mark Mueller
October 27, 2025
158
An Iowa-based foam manufacturer has paid $145 million for a facility it operates out of in Fullerton, marking the priciest single-property industrial sale in Orange County this year.
Property records indicate that Future Foam, a Council Bluffs-based maker of a variety of flexible polyurethane foams used in bedding and other products, recently completed the purchase of 1050 S. State Blvd., a roughly 417,230-square-foot industrial building located at the corner of State College and Kimberly Avenue.
The manufacturer had previously been a tenant at the building, which was sold by another Iowa firm, Des Moines-based investment firm Principal Real Estate Investors.
The sale works out to be nearly $350 per square foot for the facility, which CoStar records indicate is located on a nearly 17-acre site that’s a few blocks from the intersection of the Riverside (91) and the Orange (57) freeways.
Owner-User Premium
By total price, the deal for the Fullerton facility marks the largest single-property industrial sale in OC in nearly three years, CoStar records indicate. The only other industrial building in the area to sell for more than $100 million in 2025 was 1501 E. Cerritos Ave., a roughly 407,000-square-foot building that’s about two miles east of Disneyland.
That two-building property was bought earlier this year by Walt Disney Co., which had already been leasing the site for its local operations. Disney paid $124 million, or about $305 per square foot, for the Cerritos Avenue site.
The second biggest owner-user transaction of the past quarter was the $30.7 million purchase of a newly built building in the airport area of Irvine, by Orange Bakery. The food maker paid a reported $567 per square foot for the 54,100-square-foot building along Cowan Avenue, located next to its current headquarters.
Connected Facilities
Future Foam traces back to the 1950s and counts a sizeable real estate presence in the U.S., with nearly 30 facilities to its name. Its presence in Fullerton goes back to the early 1980s.
Its only two Southern California locations are in Fullerton; it lists both the State College facility and an adjacent property at 2451 Cypress Way as being separate facilities with different specialties, though the buildings are connected and were both part of the $145 million sale.
Newmark’s Jeff Read represented principal in the sale, while the buyer was represented by Ashwill Associates.
The State College facility is used for manufacturing bedding, furniture and other products, according to the company’s website. The Cypress Way portion of the facility is used for carpet-cushion manufacturing.
The buyer took out a $40 million loan from First National Bank of Omaha to fund the deal, CoStar records indicate.
Vacancy Up, Rents Down
The sale comes amid signs of a slowing industrial market in OC.
The vacancy rate for OC industrial properties stood at 5.1% at the end of the third quarter, according to a recent report from commercial real estate brokerage Colliers. That’s up from 4.7% a quarter ago and is 1.6% higher than this point a year ago.
OC’s all-time lowest vacancy mark was 0.9%, set in late 2022, Colliers reports.
The uptick in vacancy comes as more supply is being added to the area, with nearly 700,000 square feet of new industrial buildings completed last quarter, and another 1.5 million square feet currently underway.
Monthly rents for industrial buildings now average about $1.51 per square foot, according to Colliers data. That’s 26 cents per square foot below the all-time high for the area, set in mid-2023.
Rents are still 57% higher than pre-pandemic levels, the brokerage reports.
November 19, 2025
BASF to License Technology
BASF PolyTHF® technology now available for licensing
BASF will start offering state-of-the-art polytetrahydrofuran (PolyTHF®) 1800 production technology licenses to clients and partners. As a global leader in PolyTHF technology development, BASF operates three major production sites worldwide: Caojing in China, Ludwigshafen in Germany, and Geismar in the United States.
Franky Ruslim, Vice President, Global Technology Head, Intermediates Business, BASF
“In today’s fiercely competitive world, innovation is no longer optional but essential. By opening our PolyTHF 1800 patented technology for licensing, we are committed to driving new growth in industries like textiles, reshaping collaboration models, and creating value for both our clients and BASF.”
Zhai Yabi, Strategic, Project & Licensing Director, Asia Pacific, Intermediates Business, BASF
“Licensing our proven technology provides an attractive value proposition to clients and partners in the market, allowing them to access innovation, reduce R&D costs, and accelerate time-to-market for quick wins.”
PolyTHF is a key raw material for producing spandex elastic fibers, widely used in swimwear, sportswear, underwear, shirts, and stretch jeans. The elastic fibers maintain long-lasting wearing comfort while also providing moisture resistance and antibacterial properties. PolyTHF® is a registered trademark of BASF.
https://www.ccfgroup.com/newscenter/newsview.php?Class_ID=600000&Info_ID=2025111930007
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