Foresight, History Allow Huntsman to Stay Ahead of Polyetheramine Demand
2007 Production to Increase to 30M Pounds of JEFFAMINE® Products Annually
THE WOODLANDS, TEXAS - Construction of Huntsman Corporation’s (NYSE: HUN) first Asia Pacific polyetheramines site, which broke ground on November 30, 2005, is on schedule and expected to be in commercial production in third quarter 2007.
Because of its long standing leadership position in the polyetheramine business, Huntsman will continue meeting the global market’s demand for JEFFAMINE® products when its new manufacturing facility in Jurong Island, Singapore, begins operation during 2007.
“Our history as a polyetheramine producer gives us the ability to see trends that a lesser tenured producer would not see. Being a dependable source of polyetheramines for the U.S. and European markets, we could see the growth potential, especially in epoxy curatives and polyurea coatings,” said Don Stanutz, President of Huntsman’s Performance Products division. “Completion of the Singapore plant will significantly increase our capacity and give us a truly global platform for the manufacture and marketing of this specialty product. With a world class infrastructure, highly skilled workforce, strong intellectual property protection and excellent connectivity, this new facility is an important factor in helping us continue to support our customers’ global growth.”
The new plant will produce 30 million pounds of JEFFAMINE® products annually, complementing Huntsman’s larger polyetheramines facilities in Conroe, Texas, and Llanelli, Wales. The new plant will utilize the latest technology to ensure increased safety and environmental performance in line with Huntsman’s global commitment to environment, health and safety, as well as with worldwide and local policies and procedures.
Key JEFFAMINE® polyetheramine applications include epoxy coatings, concrete additives, organic pigments, fuel and lubricant additives, herbicides and pesticides. The wide range of molecular weights, amine functionality, and oxide type and distribution provide flexibility in synthetic design of compounds made from JEFFAMINE® products. For the most part, JEFFAMINE® products undergo typical amine reactions and are low viscosity, color and vapor pressure.
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 14,000 employees and over 75 operations in 24 countries. The Company 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, 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.