Huntsman to Expand Its JEFFAMINE(R) Polyetheramine Manufacturing Capacity in Singapore
EVERBERG, Belgium, May 20 /PRNewswire-FirstCall/ -- The Performance Products division of Huntsman Corporation (NYSE: HUN) announced today that it will expand manufacturing capacity of its JEFFAMINE® polyetheramine manufacturing facility located on Jurong Island, Singapore. The planned expansion is anticipated to occur by the end of the third quarter of this year and will increase existing capacity by more than 50%.
Daniele Ferrari, President of Performance Products said, "We have been extremely pleased with this Singapore investment and the ongoing support provided to us by our customers and the Singapore authorities. It is very gratifying to have this opportunity to invest further in the Jurong Island facility."
"This facility, which began operations in 2007, has been a critical strategic manufacturing platform in meeting the regional demands for JEFFAMINE® polyetheramines in Asia over the past three years. Rapidly growing regional demand necessitates this additional investment to meet the markets' increasing requirements," said Steve Stilliard, Vice President, Performance Products – Asia Pacific.
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.
Note: JEFFAMINE® is a registered trademark of Huntsman Corporation or one of its affiliates in one or more, but not all, countries.
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.
SOURCE Huntsman Corporation
Released May 20, 2010