The Urethane Blog

Huntsman Sells Indian Adhesives Business

Huntsman sells India DIY consumer adhesives business in $285M deal

Oct. 28, 2020 4:21 PM ET|About: Huntsman Corporation (HUN)|By: Carl Surran, SA News Editor

Huntsman (NYSE:HUN) agrees to sell its India-based Do-It-Yourself consumer adhesives business, part of the Advanced Materials division, to Pidilite Industries for as much as $285M.

Under the deal terms, Huntsman will receive $257M in cash at closing and up to $28M under an earnout within 18 months if the business achieves sales revenue in-line with 2019.

“We have taken this business and built it from almost nothing to be a market leader in India,” Chairman, President and CEO┬áPeter Huntsman says. “To take it to the next level of size and value, we simply do not have the footprint in India to do so.”

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