Huntsman Corp. and Laffans Petrochemicals Ltd. have signed a letter of intent to finalize a collaboration agreement to share know-how, expertise and resources for specialty chemicals, including surfactants and amines.
Mumbai, India-based Laffans responsibilities would include manufacturing and raw material sourcing, while Huntsmans contribution would include marketing and selling, branding, product range, global approvals, technology and manufacturing processes.
We expect this collaboration to be a significant step in our strategy to further expand our presence in the critical Asia Pacific region and to built support for our key global customers as they grow in India, said Steve Stilliard, vice president of Woodlands, Texas-based Huntsmans Performance Products division in Asia Pacific. The planned technology transfer will include specialty nonionic surfactants, glycol ethers and amines for a wide range of markets, including agrochemicals, household, personal care, oil and gas, and automotive brake fluids.
Laffans Petrochemicals, started in 1994, produces a variety of ethoxylates used in lubricants, along with glycol ethers, ethanolamines, brake fluids and a variety of other specialty chemicals. According to Laffans web site, the companys capacities include 25,000 metric tons per year of glycol ethers, 30,000 mt/y of ethoxylates and 10,000 mt/y of ethanolamines.
In other Huntsman news, the company said it reached a $1.73 billion cash and financing settlement with Credit Suisse and Deutsche Bank to settle claims and end a trial against them related to Huntsmans terminated merger agreements with Basell and Hexion Specialty Chemicals.