Page 41 - Plastics News June 2026
P. 41
COMPANY NEWS
also for the broader development of circular vertically integrated flexible packaging plants
packaging infrastructure in India.The company Huntsman Sells its Italian Based Automotive
that has more than three decades of experience Aftermarket Business
in PET packaging and supplying rigid and flexible
packaging solutions world over, recently started Hunstman Corporations has sold Huntsman
operations at its bottle-to-bottle recycling plant Gomet, a business located in Azeglio, Italy, to
in Sanand, Gujarat, built with a Rs1.25bn ($13m) Trelleborg Group for €42.5 million (approximate-
ly $50 million), subject to customary
post-closing adjustments. Gomet is a
manufacturer of molded rubber and
thermoplastic automotive aftermarket
components, which was a business
within Huntsman's Polyurethanes divi-
sion, and was acquired by Huntsman
in 2014 as part of the Rockwood ac-
quisition. In 2025, Gomet generated
revenues of approximately €24 mil-
lion. The proceeds from this trans-
action will be used to reduce out-
standing borrowings. Houlihan Lokey
served as financial advisor and Fresh-
fields LLP served as legal counsel to
Huntsman Corporation. The automo-
investment. The site is designed to process more tive aftermarket is the secondary market for ve-
than one billion used PET bottles each year and hicle maintenance, parts, and accessories after
turn them into food-grade recycled PET resin for the initial sale. Valued globally in the hundreds
food and beverage packaging. The plant uses of billions, it includes repair facilities, part man-
a Starlinger bottle-to-bottle recycling system, a ufacturers), and digital platforms, catering to
technology used for food-contact recycling ap- both DIY consumers and professional mechan-
plications. It added that the compliance structure ics. Huntsman Corporation is a publicly traded
includes quality, traceability and food safety sys- global manufacturer and marketer of diversified
tems, including FSSC 22000 certification, along chemical products with 2025 revenues of ap-
with recycling process frameworks recognised proximately $6 billion from its continuing op-
by the US Food and Drug Administration and erations. Its chemical products number in the
the European Food Safety Authority for food- thousands and are sold worldwide to manu-
contact recycled PET use. The company noted facturers serving a broad and diverse range of
that its investment in bottle-to-bottle recycling consumer and industrial end markets. Operating
was made with a long-term view of supporting with more than 55 manufacturing, R&D and op-
both sustainability and supply-chain reliability for erations facilities in approximately 25 countries
brand owners. This approval reinforces its ability and the company employ approximately 6,000
to offer food-grade recycled material that meets associates within continuing operations. The
stringent safety and compliance expectations Company has recently declared a $0.0875 per
while supporting India’s transition towards circu- share cash dividend on its common stock. The
lar packaging. UFlex Limited stood as a primary dividend is payable on June 30, 2026, to stock-
domestic job creator as they filled highly special- holders of record as of June 15, 2026.
ized engineering and technical roles across their
June 2026 PLASTICS NEWS 43
