Huntsman to Close German Maleic Anhydride Plant
Huntsman Corporation announced that it has completed a strategic review of its European maleic anhydride business. Based on the results of this review, the company will close the maleic anhydride plant in Mors, Germany. The plant closure is expected to be completed by the end of this quarter.
In 2024, the European maleic anhydride business will have an adjusted EBITDA loss of approximately $10 million. In the future, the company plans to serve customers in Europe through its North American plants in Pensacola, Florida and Geismar, Louisiana.
Due to the closure of the Mors plant in Germany, Huntsman expects to incur a one-time non-cash asset impairment charge of approximately $75 million in the second quarter of 2025.
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