Huntsman Corporation announced that it has branded its spray polyurethane foam (SPF) Business as Huntsman Building Solutions (HBS). HBS is a global platform within Huntsman\u2019s Polyurethanes division.<\/p>\n\n\n\n
The SPF Business was formed when Huntsman acquired North American SPF company Icynene-Lapolla in February and combined it with Demilec, which Huntsman acquired in 2018. HBS is now one of the world\u2019s leading SPF providers and the fifth largest insulation manufacturer. Simon Baker, previously president of Demilec, and Doug Kramer, formerly president of Icynene-Lapolla, jointly lead HBS. Baker is responsible for Canada and international business and Kramer for U.S. business.<\/p>\n\n\n\n
Commenting on the new name, Tony Hankins, President of Huntsman\u2019s Polyurethanes division, said: \u201cIntegration of the two legacy companies is progressing well and the selection of the new name is an important milestone for the Business. I\u2019m excited about the opportunities that lie ahead, notwithstanding the current challenges caused by the Covid-19 pandemic. SPF is a highly attractive growth business; we have a product offering which is second to none and our products provide significant environmental benefits \u2014 not just in terms of energy savings, as they are the most effective thermal insulants in the market; but also in terms of the upcycling of PET bottles and scrap, which are used in our TEROL polyols, a key ingredient in the production of SPF. HBS will consume significant volumes of our lower margin polymeric MDI \u2013 the other key ingredient in SPF formulations \u2013 to produce higher margin specialized SPF systems.\u201d<\/p>\n\n\n\n