FOR IMMEDIATE RELEASE
January 23, 2014
THE WOODLANDS, Texas – The Performance Products division of Huntsman Corporation (NYSE:HUN) announced today that it will expand its global polyetheramines (PEA) capacity by a minimum of 15 percent as a result of debottlenecking three of its PEA manufacturing plants globally. The financial investment and capacity was not disclosed.
Expansion is currently underway in the Americas, Europe and Asia. The company expects projects at its Conroe, Texas (USA), Llanelli, Wales (United Kingdom) and Singapore sites to be fully operational by May 2014.
Stu Monteith, President of Huntsman’s Performance Products division said: “In addition to an increase in capacity, these debottlenecking projects will enhance Huntsman’s manufacturing flexibility globally.” He added: “No disruptions in production are expected during this period.”
Polyetheramines improve the performance of epoxy systems that are used in industrial and decorative coatings and sports equipment such as tennis racquets, skis and hockey sticks. With new amine applications emerging all the time, Huntsman is forecasting significant mid-term growth in the sector.
About Performance Products:
The Performance Products division is a leading global producer of intermediate chemistries and technologies based on amines, surfactants, carbonates and maleic anhydride.
Huntsman is a global manufacturer and marketer of differentiated chemicals. Our 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, f
or rapid and integrated growth in petrochemicals, Huntsman has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2012 revenues of over $11 billion. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Forward Looking Statements:
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 factor s. 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.
Kurt Ogden, Investor Relations
+1 801 5845959
Michael Scharf, Media
+32 2 7589884