The Woodlands, TX - Huntsman Corporation (NYSE: HUN) today announced that its Advanced Materials division completed the sale of its stereolithography resin and Digitalis® machine manufacturing businesses to 3D Systems Corporation for $41 million in cash.
The stereolithography business had revenues of $7 million in 2010 and its products are used primarily in three-dimensional part building systems. The Digitalis® business is a stereolithography rapid manufacturing system previously under development by Huntsman.
Commenting on the sale, James Huntsman, President of the Advanced Materials division, said: "We are pleased that 3D Systems Corporation is now owner of these businesses. 3D has a rich heritage of being a pioneer and industry leader in stereolithography and rapid manufacturing systems. We are confident that these assets will be a great fit for 3D. This sale further enables us to concentrate our focus on our core competitive and strategic strengths, the construction, coatings, power, aerospace and electronics applications."
About Huntsman:
Huntsman is a global manufacturer and marketer of
differentiated chemicals. Its operating companies
manufacture products for a variety of global industries,
including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction,
technology, agriculture, health care, detergent, personal
care, furniture, appliances and packaging. Originally known
for pioneering innovations in packaging and, later, for
rapid and integrated growth in petrochemicals, Huntsman has
approximately 12,000 employees and operates from multiple
locations worldwide. The Company had 2010 revenues of over
$9 billion. For more information about Huntsman, please
visit the company's website at www.huntsman.com.
Forward-Looking Statements:
Statements in this release that are not historical are
forward-looking statements. These statements are based on
management's current beliefs and expectations. The
forward-looking statements in this release are subject to
uncertainty and changes in circumstances and involve risks
and uncertainties that may affect the company's
operations, markets, products, services, prices and other
factors as discussed in the Huntsman companies' filings
with the U.S. Securities and Exchange Commission.
Significant risks and uncertainties may relate to, but are
not limited to, financial, economic, competitive,
environmental, political, legal, regulatory and
technological factors. The company assumes no
obligation to provide revisions to any forward-looking
statements should circumstances change, except as otherwise
required by applicable laws.
Contacts:
Media
Gary Chapman
(281) 719-4324
Investor Relations
Kurt Ogden
801-584-5959