Huntsman's Pori, Finland Facility Experiences Fire
THE WOODLANDS, Texas, Jan. 31, 2017 /PRNewswire/ -- A fire started January 30 at Huntsman Corporation's (NYSE: HUN) titanium dioxide manufacturing facility in Pori, Finland. All Huntsman associates at the site have been accounted for and there were no injuries. The fire brigade responded quickly and extinguished the fire.
Pori has a capacity of 130,000 metric tons, which represents approximately 15% of Huntsman's total titanium dioxide capacity and approximately 10% of total European demand. The site is insured for property damage as well as earnings losses. Huntsman is committed to repairing the facility as quickly as possible to ensure that customers can continue to receive the quality products offered by our Pori site.
The ongoing process to separate the Pigments and Additives business from Huntsman is proceeding.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2015 revenues of more than $10 billion. Our chemical product number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 100 manufacturing and R&D facilities in approximately 30 countries and employ approximately 15,000 associates within our 5 distinct business divisions, including the Pigments and Additives division that we intend to spin-off as Venator Materials Corporation. For more information, 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.
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SOURCE Huntsman Corporation
Released January 31, 2017