Huntsman completes sale of European commodities business
According to the company, "Through positive operating cash flows, funds raised in our IPO, and the proceeds from this transaction and the previously completed sale of our US Butadiene and MTBE business, the company has generated funds sufficient to reduce our net debt by $2.6 billion over the past two years. We now derive over 80% of our sales from our differentiated chemical products, which are significantly less cyclical, less energy dependent, and higher margin businesses than commodity chemicals."