Huntsman, the US chemicals group, is considering spending part of a $2.7bn compensation package from the collapse of a buy-out plan to acquire specialty chemical plants in China, according to a senior company executive.
The group, which moved the headquarters of its textile chemicals business from Basel to Singapore earlier this year, is evaluating several possible facilities, including some owned by Clariant and BASF, the Swiss and German chemicals groups.
“We are looking for potential acquisitions. The obvious place to look is China,” said Paul Hulme, global president of Huntsman's textile effects division, which makes advanced dyes and chemicals for clothes manufacturers.
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