The Woodlands, TX - Huntsman Polyurethanes, a business unit of Huntsman Corporation (NYSE: HUN), announced today that it will increase prices in all North American and South American market segments for its MDI isocyanates, polyols, and systems on November 1 or as contracts allow.
Huntsman will increase the price of MDI isocyanates $0.08 per pound, polyols $0.10 per pound, and systems $0.09 per pound.
Huntsman said the increases are necessary due to high raw material and energy costs, particularly natural gas, following the recent hurricanes.
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, 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 provid
e revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.