Brussels, January 15 2010 – Huntsman Polyurethanes Russia, an entity of chemical company Huntsman, has opened a new Systems House in Obninsk, near Moscow. Located on the same site as the HNMG joint venture, which was established in 2007, the new facility will produce a wide range of polyurethane products to support the growth ambitions of Huntsman customers in the region.
“We have a long track record of commitment to the Russian and FSU markets and this investment reflects our confidence in their future”, said Nick Webster, Vice President Europe of Huntsman Polyurethanes division. “As an extension of our successful HNMG joint venture, this new facility will strengthen our local capabilities to serve our customers, especially in insulation and automotive markets. Russia plays an important role within our global growth strategy. I would like to thank all Huntsman associates and the HNMG team for their continued support to make this investment a success”, Webster added.
“With the new Systems House in place, we are now able to produce a much wider range of products, locally, helping to further strengthen our established market position”, commented Simon Baker, Commercial Director of Huntsman Polyurethanes. “By combining local production facilities with efficient logistics and a regional distribution network, we aim to provide our customers with the highest levels of service and quality, across the whole region."
The HNMG joint venture manufactures and sells polyurethane systems to the adhesives, coatings and elastomers markets in Russia and other areas in the former Soviet Union. The company employs over 150 employees and has state of the art manufacturing and distribution facilities in Obninsk and a network of branch offices across the region, including in Belarus and the Ukraine.
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its
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 today has 12,000 employees and operates from multiple locations worldwide. The Company had 2008 revenues exceeding $10 billion. For more information about Huntsman, please visit the company’s website at www.huntsman.com.
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.
Magnus Wied + 41 61 299 2401