Huntsman Corp to invest $20 million in Metrochem's Vadodara unit

NYSE-listed Huntsman Corporation has chalked out a five-year investment plan of $20 million after the acquisition of the Vadodara division of Metrochem Industries for 240 crore. "The purpose behind the acquisition of this division is to propel the textile effects business in India within three years time apart from realigning the manufacturing footprints towards Asia," Huntsman Textile Division President Paul Hulme said. The company would invest $20 million in the Baroda facility to develop it in the next five years, he added saying the company is retaining the management of the city-based facility. The Vadodara site is the second largest facility for Huntsman's textile division after Basel in Switzerland. The unit has a modern three lakh square meter manufacturing facility for semi-speciality dyes and intermediates... [read full story]                    

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