Huntsman to Increase Price of MDI, MDI-Based Systems and Polyol Grades in Gulf Corporation Council (GCC) and Indian Sub-Continent Markets
Everberg, Belgium – The Polyurethanes division of Huntsman Corporation (HUN:NYSE) announced today that it will increase the price of all of its MDI products, MDI-based systems and polyol grades in GCC and Indian Sub-Continent markets, commencing with a minimum rise of $250(USD)/ton. Further increases may be advised. The move comes into effect immediately or as contracts allow.
Nick Webster, Vice President, Europe, Africa, Middle East and Indian Sub-Continent for the Polyurethanes division of Huntsman, said: "This price increase is necessary to address the massive upwards shift of raw material costs for MDI and polyol products, mainly originating from record-high crude oil and derivatives pricing”.
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 11,000 employees and operates from multiple locations worldwide. The Company had 2009 revenues of approximately $8 billion. For 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.
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