The Woodlands, TX – Huntsman Corporation (NYSE:HUN) today announced it is expanding manufacturing of its NANSA® EVM range of anionic surfactants, which will double current annual capacity to as much as 10,000 metric tonnes by the end of 2008. The expansion at Huntsman’s Castiglione delle Stiviere, Italy manufacturing plant is expected to be completed in two phases, with incremental capacity coming on stream by the end of each of the second and fourth quarters of this year. The financial details were not disclosed.
Huntsman is the world’s leading producer of anionic surfactants, which are universally used in agricultural emulsifiable concentrate formulations for crop protection applications. The need to increase crop yields from available arable land has driven increased usage of these products and the Huntsman expansion addresses supply shortfalls seen in recent times.
“This investment demonstrates Huntsman’s commitment to the agricultural market segment,” said Don Stanutz, President, Performance Products Division. He added: “It also strengthens our position as the leading global manufacturer of anionic surfactants, which together with our world-class technology will continue to allow us to develop next generation products for our strategic customers.”
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, p
lease visit the company's website at www.huntsman.com.
Forward Looking Statement:
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 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.