Huntsman Corporation (NYSE: HUN) announced that it has completed the strategic review of its European Maleic Anhydride business. As a result of this review, the Company will close its Maleic Anhydride facility located in Moers, Germany. The closure of the operations at Moers is expected to be complete by the end of the current quarter. In 2024, the European Maleic Anhydride business generated an adjusted EBITDA loss of approximately $10 million.
Huntsman will close its Maleic Anhydride plant in Moers, Germany, by the end of second quarter of 2025 (Q2 2025), following a strategic review.
The site posted a $10 million EBITDA loss in 2024.
European customers will be served from US sites in Florida and Louisiana.
The closure will result in a one-time non-cash asset impairment charge of ~$75 million in Q2 2025.
Going forward, the Company intends to serve customers in the European region from its North American facilities located in Pensacola, Florida and Geismar, Louisiana. As a result of the closure of the Moers, Germany facility, Huntsman expects to incur a one-time non-cash asset impairment charge of approximately $75 million during the second quarter of 2025.
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Fibre2Fashion News Desk (HU)
