Huntsman to Close German Maleic Anhydride Plant, Shift European Supply to North America

Huntsman Corporation (NYSE:HUN) is one of the best basic materials stocks to invest in. Earlier on May 28, Huntsman Corporation announced the completion of a review of its European Maleic Anhydride business.

As a direct outcome of this review, the company will close its Maleic Anhydride facility located in Moers, Germany. The shutdown of operations at the Moers site is expected to be finalized by the end of Q2 this year. The European Maleic Anhydride business experienced an adjusted EBITDA loss of ~$10 million in 2024.

Following the closure of the German facility, Huntsman plans to serve its European customers from its existing North American facilities, particularly those in Pensacola, Florida, and Geismar, Louisiana. The decision to close the Moers facility is expected to result in a one-time non-cash asset impairment charge of ~$75 million for Huntsman during Q2 2025.

Huntsman Corporation (NYSE:HUN) manufactures and sells diversified organic chemical products. It operates in 3 segments: Polyurethanes, Performance Products, and Advanced Materials.

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Disclosure: None. This article is originally published at Insider Monkey.