Jul 26 2007
Huntsman Corporation today announced that its Textiles Effects business has signed an agreement to acquire DuPont's global fluorochemical business for the nonwovens industry. The DuPont(TM) Zonyl(R) fluorochemical product line is used on nonwovens as effective repellents for water, alcohol and oil based fluids. Nonwoven textiles are primarily used in medical, filtration, automotive and construction applications.
Following a brief transition period to ensure a smooth handover and uninterrupted supply, Huntsman will assume responsibility for all future activities related to the business. The transaction with DuPont includes a long-term supply agreement for finished products and intermediates, but does not include the transfer of DuPont employees or the sale of DuPont manufacturing assets. The parties also entered into a joint development agreement to bring new innovations to the nonwovens marketplace.
"We are delighted with this transaction, as we believe that DuPont's technology and product stewardship, with its focus on sustainability, will significantly enhance our product offering in the technical textile market, which is strategically important for our Textile Effects business," said Paul Hulme, President of Huntsman's Materials and Effects division. "The addition of this product line will further strengthen our ability to provide innovative products and complementary effects in the nonwovens segment."