Huntsman Textile dyeing and chemical Division was formally incorporated into Angor
According to Huntsman China, Huntsman has received all relevant regulatory approvals and completed the sale of its textile dyeing and chemical division to SK Capital Partners' Angao Company on February 28. The new division will be named Angao Textile Dyeing and Chemical. Net cash proceeds after tax are expected to be approximately $540 million before customary adjustments after the close of trading.
Huntsman earlier reported fourth quarter and full year 2022 results. Fourth quarter revenue of $1.65 billion, net loss of $91 million, adjusted net income of $8 million, adjusted EBITDA of $87 million; For the full year, net income was $460 million, adjusted net income was $636 million, and adjusted EBITDA was $1.155 billion.
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