Huntsman Reconfirms Options Following Separation to Further Create Shareholder Value
THE WOODLANDS, Texas, March 29, 2017 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today noted that a Bloomberg article on March 28, 2017 reported that the Executive Chairman Jon M. Huntsman had commented in an interview that a number of companies would be suitable merger candidates for Huntsman following the planned separation of its Pigments and Additives business (to be known as Venator Materials Corporation). Huntsman noted that this statement was consistent with statements previously made to the markets by CEO Peter Huntsman who commented that "Huntsman has numerous options to increase shareholder value following the separation, including a merger-of-equals transaction, and that the Company will be carefully considering all of those options."
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2016 revenues of approximately $10 billion. Our chemical products 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 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, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting, the spin-off of Venator Materials Corporation, the ability to implement cost reductions and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other 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 March 29, 2017