SINGAPORE - Commodities bigwig Wilmar International has reached a deal to buy a European chemical unit for an undisclosed sum.
It announced today that its wholly-owned subsidiary, Wilmar Europe, agreed to buy global chemicals manufacturer Huntsman Corporation's European commodity surfactants business.
The deal will see Huntsman sell its ethoxylation facility in Lavera, France.
Wilmar will also enter into a multi-year arrangement to buy sulphated surfactant products from Huntsman facilities in St. Mihiel, France and and Italy.
Wilmar chief executive Kuok Khoon Hong said: "We are very pleased with this agreement with Huntsman, which enables Wilmar to broaden its existing footprint in Europe and extend its integrated chain to better serve customers in all geographies with responsible and quality products."
The deal is subject to regulatory approvals in France.