Huntsman Corporation announced the completion of its strategic review of the European Maleic Anhydride business, deciding to close its facility in Moers, Germany. The closure of operations is expected to be complete by the end of the second quarter of 2025.
The European Maleic Anhydride business generated an adjusted EBITDA loss of approximately $10 million in 2024, indicating its unprofitability. Huntsman plans to serve its European customers from its North American facilities located in Pensacola, Florida, and Geismar, Louisiana.
As a direct result of this facility closure, Huntsman expects to incur a one-time non-cash asset impairment charge of approximately $75 million during the second quarter of 2025. This action is part of the company's broader strategy to optimize its asset portfolio and improve cost structure.
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