The Woodlands, TX - Huntsman Corporation (NYSE:HUN) announced that effective August 1, 2008, or as applicable contracts allow, its Performance Products Division will increase list and off-list prices for all grades of surfactants products in North America as provided in the chart below. Additionally, as of August 1, 2008 Huntsman will rescind the Temporary Voluntary Allowance (TVA) provided as part of the July 1, 2008 increase.
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Huntsman said these increases are necessary due to sharp increases in raw material and energy costs, higher costs for transportation, energy, labor and maintenance; as well as higher cost for reinvestment capital.
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman today has 13,000 employees and operates from multiple locations worldwide. The Company had 2007 revenues of approximately $10 billion. For more information about Huntsman, please visit the company’s website at www.huntsman.com.
Forward Looking Statements:
Statements in this release that are not historical are forward-looking statements. These statements are based on management’s current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks an
d uncertainties that may affect the company’s operations, markets, products, services, prices and other factors as discussed in the Huntsman companies’ filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. In addition, the completion of any transactions described in this release is subject to a number of uncertainties and closing will be subject to approvals and other customary conditions. Accordingly, there can be no assurance that such transactions will be completed or that the company’s expectations will be realized. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
Director, Sales and Distribution for Performance Products
Phone: + 281-719-4322
Fax: + 281-719-4027