THE WOODLANDS, Texas – Huntsman Corporation’s (NYSE: HUN) Polyurethanes division has purchased the 20,000 square foot site of its polyurethanes system house in Mississauga, Ontario, Canada.
Huntsman has leased the site, which is known as the PEEL facility, for many years and it houses specialty formulation technology, warehousing and a quality assurance lab.
"This investment signals our commitment to grow our specialty systems business and further strengthens our customer service capabilities in Canada and the NAFTA region," said Steve Burns, Vice President, Americas, Huntsman Polyurethanes.
“In the past 18 months, we have acquired Oxid, L.P.’s TEROL® polyols business; acquired and established new systems houses in Turkey, Russia and Indonesia; acquired a 20% stake in Nippon Aqua Co. Ltd., a Japanese spray polyurethane foam insulation company; invested in the expansion of our worldscale MDI manufacturing facility in Geismar, Louisiana and commissioned a new, state-of-the-art MDI splitter and downstream manufacturing unit in Rotterdam, the Netherlands.
“These investments reflect our confidence in the long-term growth prospects for MDI-based urethanes and our commitment to our customers,” Burns adds.
TEROL® is a registered trademark of Huntsman International LLC.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2012 revenues of over $11 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 75 manufacturing and R&D facilities in over 30 countries and employ approximately 12,000 associates within our 5 distinct business divisions. For more information about Huntsman, please visit the company's website
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 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.