Huntsman Explores Options to Further Expand its JEFFAMINE(R) Polyetheramine Manufacturing Capacity in Asia
THE WOODLANDS, Texas, June 18 /PRNewswire-FirstCall/ -- The Performance Products division of Huntsman Corporation (NYSE: HUN) announced today that it has launched a study into options to further expand its JEFFAMINE® polyetheramine manufacturing capacity in Asia. This follows recent announcements of expansion in the product line at its facilities in Singapore and Wales. The study, to be completed by end of the third quarter this year, will examine the feasibility of installing new capacity within Asia across various locations, including the option of expanding its Jurong Island, Singapore operation.
Daniele Ferrari, President of the Performance Products division said: "We have a strong commitment to the polyetheramine business around the world, and we are striving to ensure that we can meet customers' growing expectation through timely and appropriate investment in Asia."
"Demand for JEFFAMINE® polyetheramines in Asia continues to grow rapidly, and we are looking to anticipate our diverse customers' requirements by planning further capacity within the medium term," added 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 to editors: 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 June 18, 2010