Everberg - Huntsman Polyurethanes announced today that it is increasing the price of all MDI and polyol grades by €150 / tonne in Europe, Africa & Middle East, effective 15 June 2006 or as early as contracts allow.
The increase affects all crude MDI, pure MDI and MDI variants grades in Huntsman Polyurethanes’ product range, as well as rigid and flexible polyether polyols and formulations.
Nick Webster, Vice-President, Europe, Africa & Middle East, Huntsman Polyurethanes, says, "This price increase reflects the relentless increases of raw material and feedstock costs, mainly originating from record-high crude oil and natural gas, which continue to impact the cost of precursor materials, intermediates, MDI and polyol products."
Webster adds, "The increase will also help ensure that we can continue to provide our customers with a continuous supply of quality MDI and polyol products in a competitive and strongly growing environment across Europe, Africa & Middle East."
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 2005 revenues of $13 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, ma
rkets, 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.
Contact: Gary Chapman
Telephone: +32 2 758 9378