Huntsman announces price increase on certain grades of thermoplastic polyurethanes
Everberg, Belgium - Huntsman Corporation (NYSE:HUN) announced today that it is increasing the price of all grades of Irogran®, Irocoat®, Irodur® and Krystalgran® thermoplastic polyurethanes (TPU) products by up to 0.20 Euro/kg or 0.10 USD/lb on a worldwide basis, effective immediately or as contracts allow.
Philippe Rose, Global Director of Huntsman’s TPU business, commented, “This increase reflects the need to address the prolonged escalation of global energy costs. Hurricane Rita has impacted the heart of the US natural gas, refining and petrochemical industry and put more pressure on an already overheated global energy market. Prices of key TPU raw materials have, once again, gone up significantly on a worldwide basis.”
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 relate to, but are not limited to, financial, economic, competitive, e
nvironmental, 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.