THE WOODLANDS, TX – The Performance Products division of Huntsman Corporation (NYSE:HUN) today announced its intention to add 250 million pounds per year of ethylene oxide (EO) capacity to its existing one billion pounds annual capacity at its manufacturing plant in Port Neches, TX.
The expansion of EO capacity at Port Neches will leverage Huntsman’s integrated EO derivatives production currently in place at the site to produce surfactants, ethanolamines, specialty chemicals and ethylene glycol (EG).
“The expansion of our ethylene oxide capacity enables Huntsman to leverage the favorable North American ethane cost position, which will benefit our intermediate chemicals and has an attractive projected return on investment,” said Stu Monteith, president of Huntsman Performance Products.
Janice Latz, vice president of operations for Performance Products, said the company’s new EO capacity should help allay customer concerns about having access to sufficient EO to support their growth.
“The Port Neches EO reactor will enable us to utilize currently untapped derivative capacity within our assets and meet future needs to match our customers’ growth,” she said.
Huntsman is a global manufacturer and marketer of differentiated chemicals. Our 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 has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2011 revenues of over $11 billion. For more information about Huntsman, please visit the company's website at www.huntsman.com.
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. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
CONTACT: Anne Knisely, +1 281 719 4072