Huntsman to Further Expand Multifunctional Epoxy Resins Capacity and Capability
Phase One expansion approved at McIntosh, Alabama to better serve Aerospace and composite industries
THE WOODLANDS, Texas, Sept. 14, 2011 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today announced a major step towards expanding one of its key product lines by launching a multi-million dollar in-depth engineering study at its McIntosh, Alabama facility. Huntsman's expanded multifunctional resins capacity will serve the current and future needs of its customers in the aerospace and composite industries.
Huntsman Advanced Materials, the global market leader in multifunctional epoxy resins, has invested significantly during 2011, expanding its capacity and capability to produce multifunctional epoxy resins both in the United States and in Europe by doubling the capacity at its Monthey, Switzerland facility and enhancing its current capability to produce purified resins at its McIntosh site.
Once completed, the new line will further boost global production of all types of multifunctional epoxy resins.
James Huntsman, President Advanced Materials Division, said, "Demand for multifunctional epoxy resins, as a replacement for aluminum and other materials and the forecasted needs of the aerospace industry are major factors influencing this decision. We are committed to our valued customers in the aerospace and high-end composite industries."
Huntsman continued, "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 hundreds of jobs at our McIntosh site."
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 2010 revenues of over $9 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 14, 2011