THE WOODLANDS, Texas—Huntsman Corp. has agreed to buy Oxid L., a producer of specialty urethane polyols.
Financial terms were not disclosed.
Oxid, based in Houston, has been producing Terol polyester polyols since 1981. The company makes a line of highly functionalized polyols for the rigid foam industry.
The companies didn't release financial details of the sale.
Oxid said its products had hydroxyl values from 120 to 350 and could be modified with enhanced functionality for demanding applications. The company added that the high aromatic content of Terol polyester polyols improves flammability characteristics in both polyisocyanurate (PIR) and polyurethane (PU) applications, reducing the need for flame retardants.
Anthony Hankins, president of Huntsman's Polyurethanes division, said Oxid has an excellent reputation in the market, and the addition of its Terol specialty polyols to its own methylene diphenyl diisocyanate product lines will strengthen its offerings to the key insulation markets in North America and provide new opportunities globally.
Oxid generated $86 million of revenue in 2012, Huntsman said.