Heavy! Huntsman's $300 million acquisition of CVC, a U.S. manufacturer of special epoxy curing agents.

Hensmey recently announced that it will spend $300 million to acquire CVC thermosoend specialty materials to expand its portfolio of specialty chemicals.
U.S. CVC thermocuring specialty materials products include specialty epoxy curing agents and tougheners, and is a North American manufacturer of specialty chemicals that serve the industrial composites, adhesives and coatings markets.
CVC Thermosodystychemicals is a subsidiary of Emald Performance Materials LLC, with annual revenues of approximately $115 million, and has two manufacturing facilities in Akron, Ohio, and Make Shade, New Jersey,

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under the terms of the agreement, Huntsman will pay $300 million for the deal, which is expected to close around mid-2020.
's acquisition of CVC thermostate specialty materials by
Scott Wright
Advanced Materials brings valuable complementary technology breadth to our advanced materials business, and its unique products will make our epoxy-based materials stronger, more powerful and more durable. The business produces highly specialized tougheners, curing agents and other additives for a wide range of composites, adhesives and coatings in the aerospace, automotive and industrial markets.
acquisition will further enhance our ability to differentiate among our customer applications, particularly through our strong formulation business. Peter Huntsman, chairman, president and chief executive officer of
, commented further: "
is in line with all the standards we sought when we acquired the Advanced Materials division, including new technologies, synergies and global opportunities.
, the business now has an EBITDA margin of more than 25% and we expect significant synergies within two years.
"at this uncertain time, our financial strength will allow us to continue to look for such acquisitions while maintaining a conservative balance sheet and opportunities to buy back shares." We remain committed to a balanced approach to capital allocation. Since the beginning of the year, we have used the depressed share price to buy back about $85 million of stock. Finally, while forward-looking visibility remains low, the first quarter is on track to deliver the outlook we communicated in our earnings call on February 13, 2020.
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