Huntsman eyes China chemical plant purchases: report

06 September 2009 @ 09:48 pm EDT

Huntsman , an American chemicals group, is looking to buy chemical plants in China with part of a $2.7 billion compensation package, said senior executive Paul Hulme in a Financial Times interview on Monday.

"We are looking for potential acquisitions. The obvious place to look was China," said Hulme, Huntsman Textile Effects division global president.

The firm is assessing a range of Chinese-owned assets alongside others belonging to European firms Clariant and BASF -- who have indicated they may be willing to sell -- the report said.

Huntsman was "very liquid" according to Hulme after receiving a compensation payout over the collapse of a private equity backed buy-out by Hexion last year.

(Reporting by William James; editing by Marguerita Choy)

Copyright 2009 Thomson Reuters. All rights reserved.

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