Huntsman Declares 'Force Majeure' On Selected Products As Result Of Hurricane Ike
The Woodlands, Texas - The Performance Products division of Huntsman Corporation (NYSE: HUN) today declared force majeure on products manufactured at several of its Texas plants as a direct result of the effects of Hurricane Ike.
The sites and products affected are:
• Chocolate Bayou, which produces Alkylates (LAB and related products);
• Port Neches: Ethylene, EO, EG, PO, PG, MTBE, Ethanolamines, Morpholine/DGA® Agent, Surfactants, and PEGs;
• Dayton: Surfactants, PEGs and Blends;
• Conroe: Specialty Amines, Carbonates, Urethane Catalysts, and Surfactants.
Force majeure was already in place for Ethyleneamines, produced at the Company’s Freeport site and this will continue.
Commenting on the force majeure, divisional President Don Stanutz said “We are continuing to evaluate Hurricane Ike’s impact on our ability to manufacture and deliver products produced in these facilities, but at this point in time none of the plants are operational, there are extensive power outages as well as raw material and transportation constraints. However, we are taking all reasonable measures to mitigate the impact of this hurricane on our operations and on our customers, consistent with Huntsman’s commitment to safety for our employees and the communities in which we operate. We will keep customers informed of our progress on a direct basis and regret any inconvenience the force majeure may cause.”
About Huntsman Corporation:
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 US$10 billion.
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 and uncertainties that may affect the company’s operations, markets, products, services, prices and other factors as discussed in the Huntsman companies’ filings with the US 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.
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