New Huntsman thermoplastic polyurethanes (TPU) line starts up, capacity expansion in Germany
The Woodlands, TX – Huntsman Corporation (NYSE:HUN) today announced the start-up of a new production line to manufacture specialist high performance TPU grades at its Osnabrück, Germany facility. This capacity expansion was previously announced in November 2007. Volume and financial details were not disclosed.
“We are delighted with this timely start-up which will satisfy customer demand especially in Asia, Eastern Europe and the Middle East and this investment fits neatly into our global growth strategy” said Ron Gerrard, Vice President of Global Operations for Huntsman’s polyurethanes business. “TPUs, which combine the advantages of rubber polymers with those of thermoplastics, are increasingly displacing more traditional materials in a variety of end-use markets and this new line strengthens our ability to meet this opportunity” he added.
Huntsman TPUs, made at Osnabrück and at Ringwood, Illinois (USA) and sold under the IROGRAN®, IRODUR®, IROSTIC®, IROCOAT®, KRYSTALFLEX® and KRYSTALGUARD® TPU trade names, are injected or extruded to produce a wide range of products such as footwear, wire and cable encapsulations, hose, tubing, films and sheet. They are also used to produce coated and laminated textiles, protective/functional coatings and adhesives.
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 13,000 employees and operates from multiple locations worldwide. The Company had 2007 revenues of approximately $10 billion. Fo
r more information about Huntsman, please visit the company’s website at www.huntsman.com.
Forward Looking Statement:
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.
Note to editors: IROGRAN®, IRODUR®, IROSTIC®, IROCOAT®, KRYSTALFLEX® and KRYSTALGUARD® TPU are registered trademarks of Huntsman Corporation or an affiliate thereof in one or more, but not all, countries.
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