Huntsman to Expand McIntosh, Alabama Specialty Resins Capacity by 4,500 Metric Tonnes
EXPANSION WILL BETTER SERVE AEROSPACE AND COMPOSITE INDUSTRIES
THE WOODLANDS, Texas, Sept. 12, 2012 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today announced a major step towards increasing its global production of all types of specialty epoxy resins following approval of expansion plans at its McIntosh, Alabama facility, which are used in demanding applications that require superior physical properties such as aerospace components, oil and gas exploration and high performance composite parts.
Huntsman Advanced Materials, the global market leader in specialty epoxy resins, has invested significantly over the last 12 months in expanding its capacity and capability to produce these resins both in the United States and Europe. The McIntosh investment will more than double the sites production capacity bringing Huntsman's total global capacity to 11,000 metric tonnes upon completion of the project, expected in late 2014.
James Huntsman, President, Advanced Materials Division, said, "These investments will bring enormous benefit and value to our customers around the world, helping them address some of the engineering challenges they face over the coming years to produce lighter, more efficient materials. I am also delighted this project will create 225 full time and contractor jobs at our McIntosh site. We greatly appreciate the help and support we have received from the State of Alabama in helping to bring this project to life."
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, for rapid and integrated growth in petrochemicals, Huntsman has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2011 revenues of over $11 billion. For more information about Huntsman, please visit the company's website at www.huntsman.com.
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. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
SOURCE Huntsman Corporation
Released September 12, 2012