Huntsman Opens New Asia Pacific Technology Centre In Shanghai, Providing World-Class Innovation Locally
Shanghai, PR China – Huntsman Corporation (NYSE: HUN), a leading global manufacturer and marketer of differentiated chemicals, today announced the official opening of its Asia Pacific Technology Centre (ATC) in Shanghai’s Minhang Development Zone, giving regional customers direct access to a world-class technology innovation resource.
The new Centre will initially accommodate research and technical experts from Huntsman’s Polyurethanes and Performance Products divisions, with the number of specialists expected to expand rapidly over the next few years. The ATC team will draw on the expertise of its counterparts at Huntsman’s Technical Development Centres in Europe and the USA, to speed the introduction of new technology platforms into the Asia Pacific market. The company’s team of regional specialists will provide extensive developmental and testing support to customers, providing custom-made solutions for Asia Pacific markets on a quick and efficient basis.
Tony Hankins, President of Huntsman Polyurethanes, who officially opened the new Centre, said, “Innovation is the lifeblood of our business – it underpins everything we do. With the opening of this excellent new facility, we are strengthening our commitment to customers in this key growth market, because we can now satisfy their technology needs on a more timely basis. Polyurethanes is one of the fastest growing market sectors in China, registering double-digit growth during the past five years. Huntsman is a market leader, having played an active role in developing the Chinese polyurethanes industry for more than 25 years and the ATC represents an important next step in our aim to build on this position.”
Don Stanutz, President of Huntsman Performance Products added “We plan to develop a highly trained team of home-grown technical specialists at the ATC which is ‘best in class’. Huntsman will continue to invest in this facility, bringing in new people
and equipment, further developing its capability. As the Asia Pacific region and particularly China represents the highest growth rate globally for the Performance Products business, we are excited about the new ATC and look forward to growing our presence and our intellectual property assets in the region in the coming years.”
For further information on Huntsman, please go to www.huntsman.com
About Huntsman Polyurethanes:
Huntsman Polyurethanes (HPU) is a global market leader in the production of MDI (diphenylmethane diisocyanate) – a key ingredient in the production of polyurethanes, which are used across an extensive range of applications and market sectors, including energy-conserving insulation for residential and commercial construction and refrigerated appliances; comfort foams for automotive seating, bedding and furniture; adhesives, coatings and elastomers; composite wood products; thermoplastic urethanes (TPUs) and footwear soling. HPU also manufactures flexible and rigid polyethers, polyesters, polyether amines, polyurea amines, propylene oxide, polyols and fully formulated polyurethane systems. It has more than 2,300 employees and 2007 revenues of US$3.8 billion.
About Huntsman Performance Products:
Huntsman Performance Products (HPP) comprises three business groups: Performance Specialties; Performance Intermediates; and Maleic Anhydride and Commercial Licensing. Performance Specialties is a leading global producer of amines, carbonates and specialty surfactants, which are used in a growing number of niche industrial end uses. Performance Intermediates are used to manufacture a wide range of personal care products, fabric softeners, laundry detergents, PET bottles and wrinkle-resistant clothing. Maleic Anhydride’s main application is in the manufacture of unsaturated polyester resins, which are used in the housing, automotiv
e and marine industries. The Commercial Licensing group licenses all Huntsman manufacturing technologies on a global basis. HPP has approximately 2,000 employees and 2007 revenues of US$2.3 billion.
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 pro
vide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
Tan Wai Lin