Huntsman's Advanced Materials Business Announces Expansion of Partnership with Azelis in the Americas

Rhea-AI Summary

Huntsman Corporation announced on July 24, 2020, an expanded partnership with Azelis Americas CASE in the US and Azelis Canada. This agreement will enhance the distribution of Huntsman's Coatings, Adhesives, Sealants & Elastomers (CASE) business in North America, incorporating both its legacy products and the recently acquired CVC Thermoset Specialties line. The collaboration aims to strengthen market presence ahead of full operational capacity by October 1, 2020. Huntsman reported 2019 revenues around $7 billion, while Azelis generated $2.37 billion, serving approximately 40,000 customers globally.

Positive

• Expansion enhances distribution capabilities in North America.
• Strengthens market presence and customer service in the CASE segment.
• Partnership with a well-established distributor, Azelis, with a significant turnover.

Negative

• None.

THE WOODLANDS, Texas, July 24, 2020 /PRNewswire/ -- Huntsman's Advanced Materials business is proud to announce the expansion of our Pan-American business relationship with our preferred distribution partner, Azelis Americas CASE, LLC in the US and Azelis Canada, Inc. in Canada.  With this agreement, Azelis will lead the distribution arm of the Coatings, Adhesives, Sealants & Elastomers (CASE) business for Advanced Materials, both in the United States and Canada. This differentiated customer offer includes all of Huntsman's legacy CASE business and CVC Thermoset Specialties product lines acquired in April of 2020. 

"Huntsman and Azelis have enjoyed a successful business relationship for almost 40 years. One of their primary strengths is a commitment to unparalleled customer service throughout the sales process," said Peter Huntsman Jr., Commercial Director, Americas for Huntsman's Advanced Materials business. "This expanded agreement strengthens our reach to our target markets in the United States and Canada, and we believe that Azelis will continue to establish Huntsman as the leading provider of material solutions that creates mutual value for our customers and our stakeholders."

Azelis is a leading distributor of specialty chemicals and food ingredients present in over 50 countries across the globe, with approximately 2,200 employees. Their knowledgeable teams of industry, market and technical experts are each dedicated to a specific market within Life Sciences and Industrial Chemicals. They offer a lateral value chain of complementary products to about 40,000 customers, creating a turnover of $2.37 billion (2019). In the United States they operate under several renowned co-brands that cater to the various markets in the region.

Huntsman expects to complete formal agreements with Azelis in the coming weeks. Azelis will be fully prepared to service their expanded territory by October 1, 2020.

About Huntsman:
Huntsman Corporation (NYSE: HUN) is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2019 revenues of approximately $7 billion.  Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.

Social Media:
Twitter: www.twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman

Forward-Looking Statements:
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/huntsmans-advanced-materials-business-announces-expansion-of-partnership-with-azelis-in-the-americas-301099596.html

SOURCE Huntsman Corporation

FAQ

What is the significance of Huntsman's partnership with Azelis?

The partnership enhances Huntsman's distribution of CASE products in North America, improving market reach and customer service.

When will Azelis be fully operational in its expanded territory for Huntsman?

Azelis is expected to be fully operational in its expanded territory by October 1, 2020.

What businesses are included in Huntsman's agreement with Azelis?

The agreement includes Huntsman's legacy CASE business and the CVC Thermoset Specialties product lines.

What are Huntsman's revenues as reported in 2019?

Huntsman reported revenues of approximately $7 billion in 2019.

How much did Azelis generate in turnover in 2019?

Azelis generated a turnover of $2.37 billion in 2019.