It will be business as usual at a Roydon based factory following a takeover announced this week by one of the world’s largest chemical companies.
Huntsman Corporation, listed on the New York Stock Exchange, has acquired the shares of IFS Chemicals Ltd, a speciality chemicals business, providing bespoke polyurethane chemicals to a variety of industries.
IFS will continue to operate from Roydon and will be known as Huntsman – IFS. The purchase price was not disclosed. The company was established more than 35 years ago and its customised MDI systems are used in a diverse range of end markets, including construction, refrigeration, automotive, sub-sea pipelines and elastomeric applications.
Dr Barrie Colvin, founder and managing director of IFS Chemicals,said: “This development is seen as an important step for both IFS and Huntsman. “Looking to the future, the day-to-day business will remain largely unchanged. Our aim is to combine the well-known technical expertise and efficient operation of IFS with the support offered by a global manufacturer of polyurethane raw materials.
“We shall continue to operate from the same premises in Roydon, with the same personnel and with the same level of customer focus.”
Tony Hankins, president of Huntsman’s Polyurethanes division, said: “With their highly experienced team and loyal customer base, IFS provides us with excellent access to the UK’s growing downstream MDI systems market.
“It will serve as a strategic platform to expand our business and consolidate our position as a market leader. The acquisition represents the latest step in our plan to strengthen our differentiated downstream capabilities and we now have more than 25 facilities worldwide, reflecting our confidence in the long-term growth prospects for MDI-based urethanes.”
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2016 revenues of approximately ten billion dollars.
It operates in more than 100 manufacturing and R&D facilities in 30 countries and employs approximately 15,000 associates.