Huntsman to Increase Polyethylene Glycol and Propylene Oxide Prices in the Americas Region
The Woodlands, TX – Huntsman Performance Products, a business division of Huntsman Corporation (NYSE: HUN), announced today that it will increase the off list prices of industrial and NF grade POGOL® polyethylene glycol products on June 1, 2006 or as contracts allow. Industrial grade POGOL products will increase $0.03/lb and NF grade POGOL products will increase $0.05/lb.
In addition, off-list prices of propylene oxide (all grades) will be increased by $0.05/lb.
Following is a list of affected PG products:
Industrial Grade NF Grade
POGOL® 200 polyethylene glycol POGOL® 300 polyethylene glycol
POGOL® 300 polyethylene glycol POGOL® 400 polyethylene glycol
POGOL® 400 polyethylene glycol POGOL® 600 polyethylene glycol
POGOL® 600 polyethylene glycol
Huntsman said the price increases reflect continued high energy and logistics costs and a continuing high demand for intermediate raw material products that are in tight supply. The move on pricing will also help to ensure that the Company continues to provide its customers with a continuous supply of quality products and a high level of service in a competitive environment.
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, 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.