Singapore - Huntsman Corporation broke ground today for its new world scale JEFFAMINE® polyetheramines manufacturing facility, the company’s first production site in Singapore’s Jurong Island.
The ground breaking ceremony was officiated by Mr. Don Stanutz , President of Huntsman Performance Products division, Mr. Arlan Emmert, Group Vice President, Asia of Jacobs Engineering Singapore Pte. Ltd. with guest of honor, Mr. Teo Ming Kian, Chairman of the Singapore Economic Development Board.
The company expects to commission the new 16,000 tonnes per annum plant in the first quarter of 2007.
“This new facility will transform our Performance Products business from being primarily a distributor of imported products to a business with hard assets on the ground in the centre of this exciting and fast-growing region,” Mr. Stanutz said.
Key Jeffamines polyetheramines applications include epoxy coatings, concrete additives, organic pigments, fuel and lubricant additives, herbicides and pesticides.
“Singapore is the hub of Asian business and this facility will provide the additional polyetheramines required to meet the growth and potential of this business in the region. Our building of this facility represents a key strategic decision for our company which will give us a truly global manufacturing platform to support the future of this speciality product in the region and ensure our long term global competitiveness,” Mr. Stanutz said.
The new plant will utilize the very latest technology to ensure increased safety and environmental performance in line with Huntsman’s global commitment to environment, health & safety performance. The plant is a key platform for helping to meet the rapidly increasing demand for polyetheramines, particularly in the fast-growing Asia-Pacific region.
Huntsman has other polyetheramines production facilities in Conroe, Texas, USA and Llanelli Wales.
“We are honored that Huntsman has chosen Singapore for their first greenfield site in the Asia Pacific for its performance products business. When completed, the plant will further add to the diversity of products and players on Jurong Island. With our world class infrastructure, highly skilled manpower, strong intellectual property protection and excellent connectivity, we believe Singapore can provide Huntsman the platform for growth in its manufacturing activities to support the region,” said Mr. Teo.
Ground preparation will start on the site immediately and construction will take just over 12 months. During this time, Huntsman and Jacobs will maintain a strong focus on the environment as well as the health and safety of those working on the site, in keeping with worldwide and local policies and procedures.
Huntsman is a global manufacturer and marketer of differentiated and commodity chemicals. Its operating companies manufacture basic products for a variety of global industries including chemicals, plastics, automotive, aviation, footwear, paints and coatings, construction, technology, agriculture, health care, textiles, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging, and later, rapid and integrated growth in petrochemicals, Huntsman today has 11,300 employees, 57 operations in 22 countries and had 2004 revenues of $11.5 billion.
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 Securities and Exchange Commission. Significant risks and uncertainties may rela
te to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. Accordingly, there can be no assurance 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 securities and other applicable laws.
November 30, 2005
CONTACT:Tan Wai Lin