The Woodlands, TX – Huntsman Corporation (NYSE:HUN) today announced that none of its manufacturing facilities sustained serious structural damage from Hurricane Rita.
The company had closed manufacturing facilities in Port Arthur, Port Neches, Conroe, Dayton, Chocolate Bayou and Freeport, Texas and Lake Charles and Geismar, Louisiana, as well as its headquarters and research and development campus in The Woodlands, Texas in advance of the storm. All but those in Port Arthur, Port Neches and Lake Charles are in the process of restarting, and the company expects them to be on line within the next 48 hours.
Port Arthur, Port Neches and Lake Charles were all at or near the eye of the Category 3 storm when it came ashore, and are still without power and other utilities.
Peter R. Huntsman, President and CEO, commented, “We feel extremely fortunate that none of our employees was injured and none of our facilities sustained serious damage, especially since the eye of the storm passed directly over Port Arthur.
“With most of our Gulf Coast plants continuing their start-up procedures we have mobilized logistics for Port Arthur, Port Neches and Lake Charles. We are moving generators, mobile homes and motor homes to the sites to accommodate our employees’ needs and expedite the restart of those facilities.”
The company’s ability to restart its Port Arthur, Port Neches and Lake Charles sites is dependent on the availability of outside power, utilities and infrastructure.
Huntsman is a global manufacturer and marketer of differentiated and commodity chemicals that improve the quality of life for people around the world. Its operating companies provide products, systems and innovative, tailor made solutions 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 an
d 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, 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.
Don Olsen, +1 281 513 8136
John Heskett, +1 801 584 5700