CHEMICALS group Huntsman has taken the first steps towards becoming a public company.
The US company, which announced plans two months ago to build the world's largest polyethelene plant on Teesside, filed a registration statement for a proposed initial public offering of its common stock earlier this week. Based in Utah, the company expects to raise about $1.25bn from the offering, which it intends to use to pay off debt.
The manufacturer saved 800 jobs at its aromatics business and secured between 4,000 and 8,000 jobs across the sector in the region when it announced plans for a plant at Wilton.
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