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ZL EOR Chemicals Oman to explore possibilities for exporting speciality chemicals

ZL EOR Chemicals Oman, which recently announced the opening of their polymer production plant in Raysut Industrial Zone in Salalah, is collaborating with the Sultanate Qaboos University to provide practical training to local engineers in chemical production, and is also looking at exporting speciality chemicals to other countries from the unit. Speaking to media persons on the sidelines of an event held on Monday at the Crowne Plaza Muscat to announce the opening of the first-ever polymer manufacturing plant in the country, H H Sayyid Faisal bin Turki al Said, chairman of the project said, “We are also exploring possibilities of exporting products from the plant to other locations in Europe, the GCC region and Canada.” ZL Chemicals, a Chinese firm, has been supplying polymers to Petroleum Development Oman(PDO) for over two years. But PDO was very clear from the beginning about its intentions to set up a manufacturing plant in the country. After much due diligence, ZL Chemicals agreed to set up a plant in Oman, primarily to supply its product to meet the requirements of the country’s oil sector.

Spotlight

Kissner Group

Kissner is a major ice melt manufacturer, salt manufacturer, chemical distributor, and plastic manufacturer supplying a wide range of high-quality products. Established over 130 years ago, Kissner has evolved to become a trusted market leader known for providing reliable service to an impressive list of clientele throughout North America. We have the experience and resources to be your top supplier. Kissner has worldwide vendor relationships to ensure prompt and efficient sourcing of all your chemical needs. We supply chemicals from multiple origin points to provide our customers with the best product to meet their specific needs.

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Chemical Technology

Global polyolefins for the rest of 2021: supply to lengthen as demand muddle continues

Article | August 2, 2022

SOMEHOW, despite the still very serious container freight shortages that have limited imports, buying sentiment seems to have weakened in the European polyolefins market, according to my outstanding ICIS colleague, Linda Naylor.

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Chemical Technology

Pandemic’s third wave seems unlikely to damage global petrochemicals demand

Article | July 14, 2022

Petrochemical stocks plunged worldwide on 19 July ahead of the Q2 earnings season. The declines were consistent with those in economically sensitive sectors such as steel, copper, automotive and housing,” wrote my ICIS colleague, Joseph Chang, in this Insight article.

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Chemical Technology

We can solve the plastic waste crisis but we don’t have much time

Article | August 8, 2022

IN 2015, a global agreement was reached that 8m tonnes a year of plastic waste entering the oceans was unacceptable, according to this September 2020 article in The Conversation. This was the amount of plastic that was estimated to have ended up in the oceans in 2010. “Several international platforms emerged to address the crisis, including Our Ocean, the UN Sustainable Development Goals and the G7 Ocean Plastic Charter, among others,” continued the article. But in 2020, an estimated 24m-34m tonnes of plastic waste was forecast to enter our lakes, rivers and oceans. This could reach as much as 90m tonnes in 2030 if the current trajectory continued, said The Conversation. This is the type of information out there, free to view on the internet and accessible via a very quick Google search, representing a major challenges for our industry. I cannot of course verify the numbers. But they are out there. Also out there is a May 2019 article by the World Economic Forum (WEF), which provided a good summary of research into what experts believed was the scale of the waste problem in the developing world.

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Chemical Technology

Ways Your Chemical Company Can Benefit From Digitization

Article | July 20, 2022

The chemical industry is evolving. The marketing, purchasing, and selling of chemicals are being affected by forces in the market, with digitization unquestionably having the most significant impact. Many of the existing digitizing models have likely already been given some thought and then rejected. Chemical businesses are currently conducting pilot projects or starting to gradually scale up their digital initiatives after moving past the proof-of-concept stage. Although this past year brought many difficulties, it also provided an opportunity to revise and re-evaluate foundations moving forward. The Great Reset, as the World Economic Forum has dubbed this time period, is illuminating how the chemical industry might leverage digital technologies to advance. Whether prompted by governmental requirements or consumer desires, chemical businesses' net-zero ambitions will necessitate new expenditures throughout the whole chemical value chain. As a result, back-office costs must be as efficient as possible to free up money to pay for those investments while keeping a profit. Consumer pull The most essential requirements for the success of a new product are a solid understanding of customer needs and wants, the competitive climate, and the makeup of the market. The primary factors that influence the needs of the consumer are price, timing, and quality. Therefore, companies create ongoing procedures and plans with these three factors in mind to better serve client needs and grow their market share by regularly creating new products. Technology pushes The influence of digital technology is constantly growing. One of the foundational elements of 21st-century sources of growth is data-driven innovation. There are numerous items and procedures in the history of innovation that were the result of an accident or careful forethought. Vast volumes of data, or "big data," are being produced and used as a result of the convergence of numerous phenomena, including the growing migration of socio-economic activities on the Internet and the decline in the cost of data collecting, storage, and processing. Large data sets are becoming an essential resource for the economy, supporting the development of new markets, procedures, and goods while also generating substantial competitive advantages. For example, a billion customers can now access broadband at a reasonable price because of the digital world's supporting infrastructure. In addition, cloud computing and the enormous amount of information processing equipment it needs are developing swiftly, and low-cost connected gadgets are being introduced into every industry. Economic benefits The financial gains that can be realized through digitization are genuine. The new digital technologies and businesses have seen an influx of cash, and the public markets are rewarding early adopters with record values. The effects of digitization are spreading swiftly throughout every business. Digitization is the changing of life and work as a result of new technologies, not only their acceptance. Much like earlier technologies, modern emerging technologies like the cloud and big data quickly become part of businesses' operations. Unknown to many, this is having a much more significant impact on the industry that makes these tools as well as on customers. Digitalization that derives from and includes strategic business objectives can greatly benefit chemical firms. Cost savings of roughly 30 to 40 percent can already be made on average today. Additionally, in certain situations, digitalization aided in improving service quality and affected the bottom line by, for instance, enabling new business models. On average, platform-driven digitization projects pay off after 18 months.

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Chemical Technology

The Digital Transformation of the Chemical Industry: The Key Trends

Article | August 2, 2022

SOMEHOW, despite the still very serious container freight shortages that have limited imports, buying sentiment seems to have weakened in the European polyolefins market, according to my outstanding ICIS colleague, Linda Naylor.

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Chemical Technology

Future-Proofing the Chemical Industry with Digitalization

Article | July 14, 2022

Petrochemical stocks plunged worldwide on 19 July ahead of the Q2 earnings season. The declines were consistent with those in economically sensitive sectors such as steel, copper, automotive and housing,” wrote my ICIS colleague, Joseph Chang, in this Insight article.

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Chemical Technology

Application of Chromatography in Various Industries is Changing the Game!

Article | August 8, 2022

IN 2015, a global agreement was reached that 8m tonnes a year of plastic waste entering the oceans was unacceptable, according to this September 2020 article in The Conversation. This was the amount of plastic that was estimated to have ended up in the oceans in 2010. “Several international platforms emerged to address the crisis, including Our Ocean, the UN Sustainable Development Goals and the G7 Ocean Plastic Charter, among others,” continued the article. But in 2020, an estimated 24m-34m tonnes of plastic waste was forecast to enter our lakes, rivers and oceans. This could reach as much as 90m tonnes in 2030 if the current trajectory continued, said The Conversation. This is the type of information out there, free to view on the internet and accessible via a very quick Google search, representing a major challenges for our industry. I cannot of course verify the numbers. But they are out there. Also out there is a May 2019 article by the World Economic Forum (WEF), which provided a good summary of research into what experts believed was the scale of the waste problem in the developing world.

Read More
Chemical Technology

Ways Your Chemical Company Can Benefit From Digitization

Article | July 20, 2022

The chemical industry is evolving. The marketing, purchasing, and selling of chemicals are being affected by forces in the market, with digitization unquestionably having the most significant impact. Many of the existing digitizing models have likely already been given some thought and then rejected. Chemical businesses are currently conducting pilot projects or starting to gradually scale up their digital initiatives after moving past the proof-of-concept stage. Although this past year brought many difficulties, it also provided an opportunity to revise and re-evaluate foundations moving forward. The Great Reset, as the World Economic Forum has dubbed this time period, is illuminating how the chemical industry might leverage digital technologies to advance. Whether prompted by governmental requirements or consumer desires, chemical businesses' net-zero ambitions will necessitate new expenditures throughout the whole chemical value chain. As a result, back-office costs must be as efficient as possible to free up money to pay for those investments while keeping a profit. Consumer pull The most essential requirements for the success of a new product are a solid understanding of customer needs and wants, the competitive climate, and the makeup of the market. The primary factors that influence the needs of the consumer are price, timing, and quality. Therefore, companies create ongoing procedures and plans with these three factors in mind to better serve client needs and grow their market share by regularly creating new products. Technology pushes The influence of digital technology is constantly growing. One of the foundational elements of 21st-century sources of growth is data-driven innovation. There are numerous items and procedures in the history of innovation that were the result of an accident or careful forethought. Vast volumes of data, or "big data," are being produced and used as a result of the convergence of numerous phenomena, including the growing migration of socio-economic activities on the Internet and the decline in the cost of data collecting, storage, and processing. Large data sets are becoming an essential resource for the economy, supporting the development of new markets, procedures, and goods while also generating substantial competitive advantages. For example, a billion customers can now access broadband at a reasonable price because of the digital world's supporting infrastructure. In addition, cloud computing and the enormous amount of information processing equipment it needs are developing swiftly, and low-cost connected gadgets are being introduced into every industry. Economic benefits The financial gains that can be realized through digitization are genuine. The new digital technologies and businesses have seen an influx of cash, and the public markets are rewarding early adopters with record values. The effects of digitization are spreading swiftly throughout every business. Digitization is the changing of life and work as a result of new technologies, not only their acceptance. Much like earlier technologies, modern emerging technologies like the cloud and big data quickly become part of businesses' operations. Unknown to many, this is having a much more significant impact on the industry that makes these tools as well as on customers. Digitalization that derives from and includes strategic business objectives can greatly benefit chemical firms. Cost savings of roughly 30 to 40 percent can already be made on average today. Additionally, in certain situations, digitalization aided in improving service quality and affected the bottom line by, for instance, enabling new business models. On average, platform-driven digitization projects pay off after 18 months.

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Spotlight

Kissner Group

Kissner is a major ice melt manufacturer, salt manufacturer, chemical distributor, and plastic manufacturer supplying a wide range of high-quality products. Established over 130 years ago, Kissner has evolved to become a trusted market leader known for providing reliable service to an impressive list of clientele throughout North America. We have the experience and resources to be your top supplier. Kissner has worldwide vendor relationships to ensure prompt and efficient sourcing of all your chemical needs. We supply chemicals from multiple origin points to provide our customers with the best product to meet their specific needs.

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Chemical Technology

Collaboration is “the name of the game” to build resilience, say speakers at 12th GPCA Supply Chain Conference

Gulf Petrochemicals & Chemicals Association | June 04, 2021

The virtual conference was held on 26-27 May, attracting over 1300 attendees from 450 companies in 62 countries Dubai, United Arab Emirates, 31 May 2021 – The coronavirus (COVID-19) pandemic of the last 15 months has demonstrated the acute importance of collaboration to build more agile, resilient, and responsive supply chains, said industry leaders at the 12th Gulf Petrochemicals and Chemicals Association (GPCA) Supply Chain Conference held virtually on 26-27 May. Senior executives from across the chemical and petrochemical value chain, logistics service providers and shipping operators urged industry leaders to capitalize on the lessons learned during the pandemic and act upon them in the future – from collaborating more closely with the regulators, their customers, and strategic partners, to driving better supply chain visibility, investing in digitalization, building their workforce capabilities, and focusing on supply chain sustainability. In his keynote address, Hamad Alterkait, Chairman of the Kuwait based company, PIC, encouraged chemical leaders to engage in supply chain collaboration even with their competitors and keep their inventory in close customer proximity to improve their reliability and better serve their end markets. He told attendees at the virtual event: “Regional chemical producers must diversify their supply base even if it means incurring higher costs in order to cushion the impact from any future crisis. Companies must also explore out of the box supply chain solutions, using different scenarios, which may aid in addressing important challenges at a critical time.” Echoing Alterkait’s remarks on the importance of collaboration were Hosam Al-Zamil, VP, Global Supply Chain, SABIC; Ahmed Abdulla Al-Salahi, CCO, Q-Chem; and Ahmed Al-Katheeri, SVP - Supply Chain Management, Borouge, in the conference’s inaugural panel on the future of chemical supply chains. The COVID-19 pandemic was a test to chemical supply chains’ resilience, as it demonstrated that the world is one global community, panelists said. “The future will not be the moving of our products; it will be the moving of data which will help enable responsiveness and agility and drive customer centricity to stay competitive. However, we cannot achieve this by working in silos. The chemical industry is just one part of the supply chain and we must work together to build a more resilient future,” Al-Katheeri added. A recent GPCA survey confirms the insights shared by speakers. It found that chemical supply chain and operations have been the single most impacted business function within downstream organizations in the GCC in the past 15 months as a result of the COVID-19 pandemic. In the path to recovery, chemical companies must focus on supply chain digitalization, sustainability, trade facilitation and regulatory engagement. Within these trends, carbon neutrality, Artificial Intelligence (AI) and Machine Learning (ML) will be the key segments to focus on and drive the highest impact on businesses’ supply chains today, the survey found. Dr. Abdulwahab Al-Sadoun, Secretary General, GPCA, commented, “I was pleased to welcome the regional and global chemical industry to the virtual edition of the 12th GPCA Supply Chain Conference last week and gain first-hand insight into the challenges associated with the pandemic on their chemical supply chain and operations. The audience was left with a message of positivity on what’s to come next and provided with a range of practical tips on how to address the uncertainty and any new crisis in the future. I hope delegates enjoyed attending the event and thank all our sponsors and partners for making this edition possible.” The 12th GPCA Supply Chain Conference was held under the theme ‘Powering a resilient, responsive and agile supply chain’, attracting over 1300 attendees from 450 companies in 62 countries. To learn more, visit www.gpcasupplychain.com About the Gulf Petrochemicals & Chemicals Association The Gulf Petrochemicals and Chemicals Association (GPCA) was established in 2006 to represent the downstream hydrocarbon industry in the Arabian Gulf. Today, the association voices the common interests of more than 250 member companies from the chemical and allied industries, accounting for over 95 percent of chemical output in the GCC. The industry makes up the second largest manufacturing sector in the region, producing over USD 108 billion worth of products every year. GPCA supports the petrochemical and chemical industry in the Arabian Gulf through advocacy, networking and thought leadership initiatives aimed at helping member companies to connect, share and advance knowledge, contribute to international dialogue, and become prime influencers in shaping the future of the global petrochemicals industry. Committed to providing a regional platform for stakeholders from around the world, GPCA manages six working committees – Plastics, Supply Chain, Fertilizers, International Trade, Research and Innovation, and Responsible Care – and organizes six world-class events each year. The association also publishes an annual report, regular newsletters and various other industry reports. For more information, visit www.gpca.org.ae. Contact: Slavka Atanasova Gulf Petrochemicals and Chemicals Association P. O. Box 123055, Dubai, United Arab Emirates T: + 44 7561 525126 E: slavka@gpca.org.ae or Hector Aquino hector@gpca.org.ae

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Enowa Partners with SAP to bring Perspective to the SAP Chemical Community

Enowa | February 19, 2021

Enowa, LLC is pleased to announce the partnership with SAP in the second edition of 2021 Partner Stage to bring viewpoint to the SAP Chemical Community. Enowa is active in the Chemical Industry, notably driving numerous business and S/4HANA changes and utilizing measure mining devices to help their S/4HANA excursion. In the new interview with Rick Place, Partner at Enowa and SAP's Solution Specialist for the Chemical Industry Business Unit, Matthew Reymann, Rick answered how Enowa effectively drives changes and features the significance of the SAP accomplice environment for the achievement of the Chemical Industry. Rick Place expresses the first concerns for the Chemical Industry is the requirement for speed in real data at real time, or near it. Further, Rick shares how coming from the beginning phases of monetary vulnerability and how that affects Mergers, Acquisitions and Divestitures – to largely extent driven by Enowa's Private Equity network. To achieve success, Enowa specialists are driving outcomes on these topics, a subset of our full competencies: About Enowa Enowa is a global, mid-sized SAP Gold Services partner established in nearly 20 years ago with a dedicated focus on business process and SAP consulting. About SAP A top cloud company with 200 million users worldwide, SAP helps businesses of all sizes and in all industries to operate profitably, adapt continuously, and achieve their purpose.

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Huntsman Completes the Acquisition of Gabriel Performance Products, Further Expanding its Specialty Chemicals Portfolio

Huntsman | January 20, 2021

Huntsman Corporation (NYSE: HUN) today announced it completed the acquisition of Gabriel Performance Products (Gabriel), a North American specialty chemical manufacturer of specialty additives and epoxy curing agents for the coatings, adhesives, sealants and composite end-markets, from Audax Private Equity. Huntsman paid $250 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Gabriel had 2019 revenues of approximately $106 million with three manufacturing facilities located in Ashtabula, Ohio, Harrison City, Pennsylvania and Rock Hill, South Carolina. Based on calendar year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 11 times, or approximately 8 times pro forma for synergies. Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2019 revenues of approximately $7 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, ability to achieve projected synergies, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.

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Chemical Technology

Collaboration is “the name of the game” to build resilience, say speakers at 12th GPCA Supply Chain Conference

Gulf Petrochemicals & Chemicals Association | June 04, 2021

The virtual conference was held on 26-27 May, attracting over 1300 attendees from 450 companies in 62 countries Dubai, United Arab Emirates, 31 May 2021 – The coronavirus (COVID-19) pandemic of the last 15 months has demonstrated the acute importance of collaboration to build more agile, resilient, and responsive supply chains, said industry leaders at the 12th Gulf Petrochemicals and Chemicals Association (GPCA) Supply Chain Conference held virtually on 26-27 May. Senior executives from across the chemical and petrochemical value chain, logistics service providers and shipping operators urged industry leaders to capitalize on the lessons learned during the pandemic and act upon them in the future – from collaborating more closely with the regulators, their customers, and strategic partners, to driving better supply chain visibility, investing in digitalization, building their workforce capabilities, and focusing on supply chain sustainability. In his keynote address, Hamad Alterkait, Chairman of the Kuwait based company, PIC, encouraged chemical leaders to engage in supply chain collaboration even with their competitors and keep their inventory in close customer proximity to improve their reliability and better serve their end markets. He told attendees at the virtual event: “Regional chemical producers must diversify their supply base even if it means incurring higher costs in order to cushion the impact from any future crisis. Companies must also explore out of the box supply chain solutions, using different scenarios, which may aid in addressing important challenges at a critical time.” Echoing Alterkait’s remarks on the importance of collaboration were Hosam Al-Zamil, VP, Global Supply Chain, SABIC; Ahmed Abdulla Al-Salahi, CCO, Q-Chem; and Ahmed Al-Katheeri, SVP - Supply Chain Management, Borouge, in the conference’s inaugural panel on the future of chemical supply chains. The COVID-19 pandemic was a test to chemical supply chains’ resilience, as it demonstrated that the world is one global community, panelists said. “The future will not be the moving of our products; it will be the moving of data which will help enable responsiveness and agility and drive customer centricity to stay competitive. However, we cannot achieve this by working in silos. The chemical industry is just one part of the supply chain and we must work together to build a more resilient future,” Al-Katheeri added. A recent GPCA survey confirms the insights shared by speakers. It found that chemical supply chain and operations have been the single most impacted business function within downstream organizations in the GCC in the past 15 months as a result of the COVID-19 pandemic. In the path to recovery, chemical companies must focus on supply chain digitalization, sustainability, trade facilitation and regulatory engagement. Within these trends, carbon neutrality, Artificial Intelligence (AI) and Machine Learning (ML) will be the key segments to focus on and drive the highest impact on businesses’ supply chains today, the survey found. Dr. Abdulwahab Al-Sadoun, Secretary General, GPCA, commented, “I was pleased to welcome the regional and global chemical industry to the virtual edition of the 12th GPCA Supply Chain Conference last week and gain first-hand insight into the challenges associated with the pandemic on their chemical supply chain and operations. The audience was left with a message of positivity on what’s to come next and provided with a range of practical tips on how to address the uncertainty and any new crisis in the future. I hope delegates enjoyed attending the event and thank all our sponsors and partners for making this edition possible.” The 12th GPCA Supply Chain Conference was held under the theme ‘Powering a resilient, responsive and agile supply chain’, attracting over 1300 attendees from 450 companies in 62 countries. To learn more, visit www.gpcasupplychain.com About the Gulf Petrochemicals & Chemicals Association The Gulf Petrochemicals and Chemicals Association (GPCA) was established in 2006 to represent the downstream hydrocarbon industry in the Arabian Gulf. Today, the association voices the common interests of more than 250 member companies from the chemical and allied industries, accounting for over 95 percent of chemical output in the GCC. The industry makes up the second largest manufacturing sector in the region, producing over USD 108 billion worth of products every year. GPCA supports the petrochemical and chemical industry in the Arabian Gulf through advocacy, networking and thought leadership initiatives aimed at helping member companies to connect, share and advance knowledge, contribute to international dialogue, and become prime influencers in shaping the future of the global petrochemicals industry. Committed to providing a regional platform for stakeholders from around the world, GPCA manages six working committees – Plastics, Supply Chain, Fertilizers, International Trade, Research and Innovation, and Responsible Care – and organizes six world-class events each year. The association also publishes an annual report, regular newsletters and various other industry reports. For more information, visit www.gpca.org.ae. Contact: Slavka Atanasova Gulf Petrochemicals and Chemicals Association P. O. Box 123055, Dubai, United Arab Emirates T: + 44 7561 525126 E: slavka@gpca.org.ae or Hector Aquino hector@gpca.org.ae

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Chemical Technology

Enowa Partners with SAP to bring Perspective to the SAP Chemical Community

Enowa | February 19, 2021

Enowa, LLC is pleased to announce the partnership with SAP in the second edition of 2021 Partner Stage to bring viewpoint to the SAP Chemical Community. Enowa is active in the Chemical Industry, notably driving numerous business and S/4HANA changes and utilizing measure mining devices to help their S/4HANA excursion. In the new interview with Rick Place, Partner at Enowa and SAP's Solution Specialist for the Chemical Industry Business Unit, Matthew Reymann, Rick answered how Enowa effectively drives changes and features the significance of the SAP accomplice environment for the achievement of the Chemical Industry. Rick Place expresses the first concerns for the Chemical Industry is the requirement for speed in real data at real time, or near it. Further, Rick shares how coming from the beginning phases of monetary vulnerability and how that affects Mergers, Acquisitions and Divestitures – to largely extent driven by Enowa's Private Equity network. To achieve success, Enowa specialists are driving outcomes on these topics, a subset of our full competencies: About Enowa Enowa is a global, mid-sized SAP Gold Services partner established in nearly 20 years ago with a dedicated focus on business process and SAP consulting. About SAP A top cloud company with 200 million users worldwide, SAP helps businesses of all sizes and in all industries to operate profitably, adapt continuously, and achieve their purpose.

Read More

Chemical Management

Huntsman Completes the Acquisition of Gabriel Performance Products, Further Expanding its Specialty Chemicals Portfolio

Huntsman | January 20, 2021

Huntsman Corporation (NYSE: HUN) today announced it completed the acquisition of Gabriel Performance Products (Gabriel), a North American specialty chemical manufacturer of specialty additives and epoxy curing agents for the coatings, adhesives, sealants and composite end-markets, from Audax Private Equity. Huntsman paid $250 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Gabriel had 2019 revenues of approximately $106 million with three manufacturing facilities located in Ashtabula, Ohio, Harrison City, Pennsylvania and Rock Hill, South Carolina. Based on calendar year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 11 times, or approximately 8 times pro forma for synergies. Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2019 revenues of approximately $7 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, ability to achieve projected synergies, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.

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