Huntsman Chemical Company Australia Pty Ltd. (HCCA), part of American chemical company Huntsman's Base Chemicals and Polymers division, has completed the sale of its Polyester Resins (composites) business assets to Nuplex Industries Ltd. for A$9.6 million ($7.5 million) in cash plus the value of inventory and other stock in trade at the completion date. The total transaction value is A$20.3 million, subject to post closing adjustments, which includes additional consideration payable over a three-year period upon achieving certain associated earnings targets.

The assets sold include HCCA's polyester, vinylester and gelcoat manufacturing assets. Annual sales from the business total approximately A$53 million.

Huntsman manufactures and markets differentiated and commodity chemicals for industries including textiles, footwear, chemicals and plastics.