Manufacturer of differentiated and commodity chemicals including chemicals, plastics, textiles and footwear industries, Huntsman Corporation has completed the sale of its US butadiene and MTBE with Texas Petrochemicals, LP.

The total sales price was approximately $262 million, of which $192 million has been paid, while an additional $70 million will be payable to Huntsman following the restart of the company's Port Arthur olefins unit and the related resumption of crude butadiene supply to Texas Petrochemicals, LP.

Huntsman has owned the butadiene/MTBE business since its 1994 acquisition of Texaco Chemical Company. The manufacturing facility produces approximately 900 million pounds of butadiene per year and approximately 11,000 barrels of MTBE per day. The business had 2005 revenues of approximately $645 million.