Huntsman to Increase Thermoplastic Polyurethanes Prices in Europe, Africa, the Middle East and the Indian Subcontinent
Everberg, Belgium - The Polyurethanes division of Huntsman Corporation (HUN:NYSE) announced today that it will increase the price of all of its thermoplastic polyurethanes (TPU) range in Europe, Africa, the Middle East and the Indian subcontinent, effective March 1 2010, or as soon as contracts allow.
Prices will increase, as follows:
AVALON® EUR 0,20 / kg
IROGRAN® EUR 0,20 / kg
IROSTIC® EUR 0,20 / kg
KRYSTALGRAN® EUR 0,50 / kg
KRYSTALFLEX® USD 1,00 / lb (US)
“These price increases are necessary because of the ongoing rise in raw material and feedstock costs, such as benzene, adipic acid, BDO and intermediate polyesters” said Nick Webster, Vice President, Europe. “Price increases for additives such as flame retardants and waxes have also influenced the increase”, he added.
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 12,000 employees and operates from multiple locations worldwide. The Company had 2009 revenues of approximately $8 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 state
ments 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 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.
AVALON®, IROGRAN®, IROSTIC®, KRYSTALGRAN® and KRYSTALFLEX® are registered trademarks of Huntsman Corporation or an affiliate thereof in one or more, but not all, countries.
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