做风电叶片的注意了，环氧行业新动向

shanghai252

国内风电叶片用环氧的注意了，Hexion准备花巨资收购Huntsman，据可靠消息Huntsman已经接受了Hexion高达106亿美元的收购报价。

估计风电用环氧树脂的价格还得往死里涨[s:6][s:7][s:3]

shanghai252

COLUMBUS, Ohio – (July 12, 2007) –Hexion Specialty Chemicals, Inc., an Apollo Management L.P. portfolio company, announced today the signing of a definitive agreement to acquire Huntsman Corporation (NYSE:HUN) in an all-cash transaction valued at approximately $10.6 billion, including the assumption of debt.



Under the terms of the agreement, Huntsman stockholders will receive $28.00 in cash for each outstanding Huntsman share of common stock.  The Huntsman Board of Directors, based on the recommendation of a Transaction Committee of independent, non-management directors, has unanimously approved the agreement and has recommended that Huntsman stockholders vote in favor of the agreement.  Huntsman has terminated its previous merger agreement with Basell AF.



“This transaction provides Hexion and Huntsman with a great opportunity to create a world-class company with leading-edge products and technologies, a greatly expanded global reach particularly in the high-growth Asia-Pacific region, and an outstanding team of people,” said Craig O. Morrison, Chairman and CEO of Hexion.  “Our combined company will be one of the world’s largest chemical companies and a leader in our ability to serve customers with an expanded portfolio of specialty materials and a significantly enhanced global presence.”



Joshua J. Harris, founding partner with Apollo Management L.P., said: “This acquisition will build Hexion into one of the world’s largest specialty chemical companies.  The combined enterprise will have annual sales of more than $14 billion and more than 21,000 associates and 180 facilities around the world.  We are pleased to welcome the Huntsman team and look forward to building on their many accomplishments in the industry.”



The agreement also provides that the cash price per share to be paid by Hexion will increase at the rate of 8% per annum (inclusive of any dividends paid) beginning 270 days from July 12, 2007. The transaction is subject to regulatory approvals and the affirmative vote of Huntsman’s shareholders, as well as other customary conditions.  Entities controlled by MatlinPatterson and the Huntsman family, which collectively own approximately 57% of Huntsman’s common stock, have agreed to vote in favor of the transaction, subject to certain conditions.  The transaction is fully financed pursuant to commitments from affiliates of Credit Suisse and Deutsche Bank.
O’Melveny & Myers LLP and Wachtell, Lipton, Rosen & Katz served as Hexion’s legal counsel.

Important Additional Information Regarding the Transaction will be Filed with the SEC:



In connection with the proposed merger with Hexion (the "Merger"), Huntsman will file a proxy statement with the Securities and Exchange Commission (the "SEC"). INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER AND THE PARTIES TO THE MERGER. Investors and security holders may obtain a free copy of the proxy statement (when available) and other relevant documents filed with the SEC from the SEC's website at http://www.sec.gov. Huntsman's security holders and other interested parties will also be able to obtain, without charge, a copy of the proxy statement and other relevant documents (when available) by directing a request by mail or telephone to Investor Relations, Huntsman Corporation, 10003 Woodloch Forest Drive, The Woodlands, Texas 77380, telephone (281) 719-6000, or from Huntsman's website, www.huntsman.com. A copy of this press release will also be available on Hexion's website, www.hexion.com.



Huntsman and its directors, executive officers and other members of its management and employees as well as Hexion may be deemed to be participants in the solicitation of proxies from Huntsman's shareholders with respect to the Merger. Information about Huntsman's directors and executive officers and their ownership of Huntsman's common stock is set forth in Huntsman's Form 10-K filed on March 1, 2007. Shareholders and investors may obtain additional information regarding the interests of Huntsman and its directors and executive officers in the Merger, which may be different than those of Huntsman's shareholders generally, by reading the proxy statement and other relevant documents regarding the Merger, which will be filed with the SEC.



Forward Looking Statements



Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, the management of Hexion Specialty Chemicals, Inc. (which may be referred to as “Hexion,” “we,” “us,” “our” or the “Company”) may from time to time make oral forward-looking statements. Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,” “project,” “plan,” “estimate,” “will” or “intend” or similar expressions. The statements included in this press release regarding any transaction with Huntsman, including the timing thereof, the likelihood that such transaction could be consummated, any future actions by Hexion or Huntsman, the effects of any transaction on Hexion or Huntsman’s operations or otherwise, and other statements that are not historical facts, are forward-looking statements. Forward-looking statements reflect our current views about future events and are based on currently available financial, economic and competitive data and on our current business plans. Actual results could vary materially depending on risks and uncertainties that may affect our markets, services, prices and other factors. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: market conditions, availability and terms of acquisition financing, satisfaction of closing conditions, actions by Hexion or Huntsman, economic factors such as an interruption in the supply of or increased pricing of raw materials due to natural disasters, competitive factors such as pricing actions by our competitors that could affect our operating margins, and regulatory factors such as changes in governmental regulations involving our products that lead to environmental and legal matters.



About Hexion Specialty Chemicals, Inc.



Based in Columbus, Ohio, Hexion Specialty Chemicals serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Hexion had 2006 revenues of $5.2 billion, operates 104 manufacturing facilities and employs more than 7,000 associates worldwide.  The company is owned by an affiliate of Apollo Management, L.P. Additional information is available at www.hexion.com.



About Huntsman Corporation



Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging.  Huntsman today has 14,000 employees and over 75 operations in 24 countries. The Company had 2006 revenues from all operations of over $13 billion.  Additional information is available at www.huntsman.com.



Hexion Contacts:
Investors:
John Kompa
Director, Investor Relations
Hexion Specialty Chemicals, Inc.
+1 (614) 225-2223
+1 (614) 284-3962 mobile
john.kompa@hexion.com



Media:
Peter F. Loscocco
Vice President, Public Affairs
Hexion Specialty Chemicals, Inc.
+1 (614) 225-4127
+1 (614) 226-4127 mobile
peter.loscocco@hexion.com



Sard Verbinnen & Co
Anna Cordasco / Jonathan Gasthalter
(212) 687-8080

shanghai252

12 Jul 2007
Huntsman Agrees to Be Acquired By Hexion for $28.00 Per Share
Terminates Merger Agreement With Basell

THE WOODLANDS, Texas and SALT LAKE CITY, July 12  - Huntsman Corporation today announced that it has terminated the merger agreement with Basell AF ("Basell") dated June 26, 2007 (the "Basell Agreement") and has agreed to a definitive merger agreement (the "Hexion Agreement") with Hexion Specialty Chemicals, Inc. ("Hexion"), an Apollo Management, L.P. ("Apollo") portfolio company, pursuant to which Hexion will acquire Huntsman in a transaction with a total value of approximately $10.6 billion, including the assumption of debt (the "Hexion Transaction").

Under the terms of the agreement, Hexion will acquire all of the outstanding common stock of Huntsman for $28.00 per share in cash. The agreement also provides that the cash price per share to be paid by Hexion will increase at the rate of 8% per annum (inclusive of any dividends paid) beginning 270 days from July 12, 2007.

The Hexion Transaction was deemed to be a superior proposal to the Basell Agreement and was unanimously approved by the Board of Directors of Huntsman. Huntsman's Board of Directors approved the agreement for the Hexion Transaction at the recommendation of a Transaction Committee comprised solely of Huntsman independent directors. Hexion's Board of Directors also has approved the agreement.

The transaction is subject to customary closing conditions, including regulatory approval in the U.S. and in Europe, as well as the approval of Huntsman shareholders. Entities controlled by MatlinPatterson and the Huntsman family and a Huntsman charitable trust, who collectively own approximately 57% of Huntsman's common stock, have agreed to vote in favor of the transaction. The transaction is not subject to a financing condition and commitments have been obtained by Hexion for all necessary debt financing from affiliates of Credit Suisse and Deutsche Bank AG. Hexion will have up to 12 months, subject to a 90 day extension by the Huntsman Board of Directors under certain circumstances, to close the transaction.

Huntsman's Board of Directors authorized the delivery of a notice of termination of the Basell Agreement, along with the payment of the $200 million break-up fee required by the Basell Agreement. Hexion funded $100 million of the Basell break-up fee while Huntsman funded the remaining $100 million.

Peter R. Huntsman, President and CEO of Huntsman, said: "This is a very favorable outcome for our shareholders and one that reflects a confidence in our Company of which our associates can be very proud. Hexion is an attractive candidate for a merger with Huntsman. We have complementary businesses and, together, will have an even stronger technology platform from which to serve our customers."

Jon M. Huntsman, Founder and Chairman of Huntsman, added: "I have invested much of my life in Huntsman Corporation and consider it the highest honor to be associated with such exceptional customers and associates. However, the time has come when it is in the best interests of our shareholders to sell the Company. I am pleased with the outcome of our merger negotiations with Apollo, and have every confidence that the combined Hexion and Huntsman teams will be superb stewards of this business for the next era."

Huntsman will file a Form 8-K with the U.S. Securities and Exchange Commission (the "SEC") with further details concerning this transaction, including a copy of the Hexion merger agreement.

Merrill Lynch & Co. and Cowen and Company, LLC acted as financial advisors to Huntsman. Vinson & Elkins L.L.P. and Shearman and Sterling LLP acted as legal advisors to Huntsman.

About Huntsman

Huntsman is a global manufacturer and marketer of differentiated chemicals and pigments. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergents, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman today has 14,000 employees and over 75 operations in 24 countries. The company had 2006 revenues from all operations of over $13 billion. ( http://www.huntsman.com)

About Hexion Specialty Chemicals, Inc.

Based in Columbus, Ohio (USA), Hexion Specialty Chemicals is the global leader in thermoset resins. Hexion serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Hexion had 2006 sales of $5.2 billion and employs more than 7,000 associates. Additional information is available at http://www.hexion.com.

About Apollo Management

Founded in 1990, Apollo is a recognized leader in private equity, debt and capital markets investing. Since its inception, Apollo has successfully invested over $16 billion in companies representing a wide variety of industries, both in the U.S. and internationally. Apollo is currently investing its sixth private equity fund, Apollo Investment Fund VI, L.P., which along with related co-investment entities, has approximately $12 billion of committed capital.

Important Additional Information Regarding the Merger will be filed with the SEC:

In connection with the proposed merger pursuant to the Hexion Agreement, the Company will file a proxy statement with the Securities and Exchange Commission (the "SEC"). INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER AND THE PARTIES TO THE HEXION AGREEMENT. Investors and security holders may obtain a free copy of the proxy statement (when available) and other relevant documents filed with the SEC from the SEC's website at http://www.sec.gov. The Company's security holders and other interested parties will also be able to obtain, without charge, a copy of the proxy statement and other relevant documents (when available) by directing a request by mail or telephone to Huntsman Corporation Investor Relations, 500 Huntsman Way, Salt Lake City, Utah 84108, telephone: (801) 584-5700 or on the Company's website at http://www.huntsman.com.

The Company and its directors, executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies from the Company's shareholders with respect to the Hexion Agreement. Information about the Company's directors and executive officers and their ownership of the Company's common stock is set forth herein and in the proxy statement for the Company's 2007 Annual Meeting of Shareholders, which was filed with the SEC on March 30, 2007. Shareholders and investors may obtain additional information regarding the interests of the Company and its directors and executive officers in the Hexion Agreement, which may be different than those of the Company's shareholders generally, by reading the proxy statement and other relevant documents regarding the Hexion Agreement, which will be filed with the SEC.

CAUTIONARY STATEMENTS
The statements included in this news release regarding any transaction with Hexion, including the timing thereof, regulatory approvals, the likelihood that either such transaction could be consummated and other statements that are not historical facts, are forward-looking statements. These statements involve risks and uncertainties including, but not limited to, actions by regulatory authorities, market conditions, the Company's financial results and performance, consummation of financing, satisfaction of closing conditions, actions by any other bidder and other factors detailed in risk factors and elsewhere in the Company's Annual Reports on Form 10-K and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize (or the consequences of such a development worsen), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. The Company disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

SOURCE  Huntsman Corporation
CONTACT:  media, Russ Stolle of Huntsman Corporation, +1-281-719-6624; or investor relations, John Heskett, +1-801-584-5768, for Huntsman Corporation

shanghai252

再看看MGS属于Bakelite AG，而Bakelite AG也被Hexion收购了。

老蔡真有眼光啊，天津厂的预计愿景真的不错。

就看环氧的另外两巨头DOW和南亚的了

shanghai252

参考

近年来，欧美、日本环氧树脂公司兼并及投资建设较为活跃。国际大公司经过一系列重组，目前全球环氧树脂行业三甲已由20世纪末的Shell(壳牌)、DOW(陶氏)、Ciba-Geigy(汽巴嘉其)，变成Hexion(瀚森)、DOW(陶氏)、南亚。这世界环氧树脂市场新3强生产能力分别达到38、36、30万吨！Hexion、DOW、南亚目前在中国都设有生产基地。中国已成为全球环氧树脂最大生产国和重要消费国，但从企业角度看还有待做大做强。

    进入21世纪后世界制造业纷纷进驻中国市场，使环氧树脂市场发生重大变化、竞争日趋激烈，为了增强竞争力，环氧树脂生产厂商改组趋势突现。Shell、Ciba-Geigy退出环氧树脂市场，Shell的环氧树脂生产及其品牌先后被Apollo Management 、Resolution 、Hexion收购。买力雄厚的Hexion Specialty Chemicals是由Resolution Performance Products LLC，Resolution Specialty Materials LLC，Bakelite，Borden Chemical 组合而成，是目前世界上最大的环氧树脂生产及经营商。Ciba-Geigy的环氧树脂生产及其品牌先后被Vantico、Huntsman收购。DOW收购了韩国的Pacific epoxy co.Ltd、日本的Kinu Ura，在中国张家港建成4万吨/年环氧树脂装置，增强了自身的实力。我国台湾南亚塑胶异军突起，将在麦寮、树林的老装置更新改造及大陆昆山建新装置，使该公司的环氧树脂生产能力达到30万吨，成功地进入前3位。使新世纪初期Hexion、DOW、南亚塑胶成为世界环氧树脂市场新3强！

    专家介绍说，RPP及Resolution特种材料公司(RSM)与Borden化学品公司合并后诞生了一家全球最大的热固性树脂公司：Hexion特种化学品公司——专家把它译为“瀚森”。RPP公司是Apollo管理公司2000年购得壳牌环氧树脂业务后重新命名的公司，是世界上主要的环氧树脂生产和经销商。RSM是其新的姊妹公司，从事Eastman化学品公司的涂料、粘接剂、特种聚合物及油墨业务。Borden化学品公司还签署了一项最终协议从Rügers(德国酚醛和环氧树脂制造商Bake1ite的母公司)手中购买Bakelite，这项交易的价格未被披露，但德国国内媒体报道估计Bakelite的价格在2.5～3.0亿欧元，或交易价接近于利息、税、折旧及摊提前赢利的8倍。Bakelite 2003年的销售额为5.4亿欧元，现有雇员1700人。Bakelite在德国4个地方设有生产厂，在芬兰、意大利、西班牙及捷克、韩国和美国有其全资生产厂，在美国和日本有其合资公司。这项收购将使Borden每年14亿美元的销售额增加6亿美元。Bakelite的业务主要为非北美业务，将可以作为Borden(主要为北美业务)业务的补充。

    另外，RPP公司2004年向得克萨斯州哈里斯县地区法院提出了诉讼，状告中国台湾Formosa塑料公司(在台湾从事环氧树脂及关键原料环氧氯丙烷的生产商)及某些个人，称其不合法行为包括不公平竞争，盗用商业秘密、欺诈等，要求至少1亿美元的损失赔偿。亚太地区对于陶氏化学及其环氧树脂业务都是重要的增长市场。在亚洲，陶氏看到了由采用环氧树脂的产品所带来的更大需求，正积极研究和评估该地区的投资和发展机会。

    为了进一步拓展其在亚洲的环氧树脂业务，陶氏化学从韩国Saehan工业公司手中收购了环氧树脂生产厂Pacific Epoxy在Kumi的工厂其余20%股份，现在为其全资持有者(2001年1月已购得该厂80%股份)，该厂年产环氧树脂3万吨，供应溴化环氧、固态及固体溶液环氧树脂用于防护涂料、电子产品及专用品。Huntsman正在瑞士投资建设一个高性能多官能团环氧树脂厂。该厂的计划产能未被披露，但其建成后将使多官能团环氧树脂的全球供应量翻倍。该项目的具体投资额也未公布，但据透露其规模在几百万美元。2005年1月该厂开始建设，进展迅速。一期工程在2005年第4季度完成。预计2006年中期全部建成。Huntsman投建该厂意在通过在欧洲设立供应点，补充平衡其在北美(美国阿拉巴马的McIntosh工厂)多官能环氧树脂的供应，使其供货能力无人抗衡，给用户的交货时间将由18周缩减至8周。Elementis(英国专用化学品公司)同意将其从事环氧和聚氨酯产品业务的公司Hardman以约780万英镑现金出售给美国的皇家粘接剂及密封剂公司(以下简称Royal)。Hardman公司净资产为240万镑，2004年在利息、税、折旧及摊提前盈利110万英镑(销售额1400万英镑)。购得Hardman将使Royal公司开扩其产品领域并拓展其市场。Royal公司计划将提高其在小型船只及快艇用粘接剂及密封胶市场的现占有率并对进入航空市场有浓厚兴趣。捷克Spolchemie公司与日本DIC公司合资在捷克新建了一家环氧树脂厂，投资250万欧元，采用日本最新的技术，每年生产固态及液态树脂3万吨、溶液及混合物1万吨。该厂在供给其欧洲东部及中部客户的同时将有能力大力推进其在西欧的业务，并在未来开拓乌克兰、俄罗斯、土耳其及北非市场。其生产原料双酚A1/3需要外购，环氧氯丙烷可80%自给。

    日本Nippon Pelnox公司将大举进军中国和南亚地区电子部件及相似绝缘应用中所使用的液态环氧树脂市场。该公司已利用在泰国的工厂生产此类用于汽车电子部件及材料的液态环氧树脂，以跟上泰国汽车制造业增长对材料需求增长的步伐。其在台湾控投的子公司也开始部分生产这类树脂。此外，该公司与专业的台湾贸易公司签属了代理协议，着手将该类产品由日本或中国台湾直销，目标是中国华南地区，特别是东莞。该公司在泰国生产供应车载电子元件用液态环氧树脂并供给中国各种电子部件用环氧树脂。同时，他们打算进行l项可行性研究，即在中国本土生产制造该类树脂。

    东京的Sumitomo Bakelite公司通过从瑞典的Perstorp集团手中购买比利时的Vyncolit NV公司、Vyncolit North America公司(美国康涅狄格州)强化了其已在热固性模塑料领域的稳固地位。Sumitomo Bakelite本身拥有的Durez公司(美国德克萨斯州)生产酚醛、环氧和聚酰亚胺等树脂及化合物。而Vyncolit公司2002年由Rügers公司手中获得了热固性模塑料业务，生产包括酚醛、三聚氰胺、环氧、脲醛等一系列热固性树脂及化合物。

促进剂

坏消息！

shanghai252

可不是吗？
一般都是国内需要的就拼命涨价，国内能做的很好的就拼命跌价。

laney

这没啥~ [s:3]
估计HEXION收购HUNTSMAN比较困难，涉嫌垄断呢

变化有点快哦！
前段时间还听说是BASF与SHELL联合收购了HUNTSMAN的

shanghai252

之前是Basell准备收购，但出价每股少了两美金，现在Huntsman为了投奔Hexion，还准备付两亿美金的分手费给Basell。

谁让Basell被俄罗斯大佬给收购了呢，上次GE Platic放弃Basell投奔Sabic也应该是同样的俄罗斯背景原因

laney

不怕~
还有DOW、GURIT。。。。
还有国产环氧，很快出来的~