Huntsman Increases Polyurethane Catalyst Capacity and Widens Portfolio in Conroe, Texas
Huntsman Corporation (NYSE:HUN) today announced that its Performance Products division has completed the initial phases of a multi-stage program to increase capacity and widen its portfolio of polyurethane catalysts and specialty amines at its Conroe, Texas facility.
FOR IMMEDIATE RELEASE
September 25, 2019
THE WOODLANDS, TEXAS - Huntsman Corporation (NYSE:HUN) today announced that its Performance Products division has completed the initial phases of a multi-stage program to increase capacity and widen its portfolio of polyurethane catalysts and specialty amines at its Conroe, Texas facility. Expected to be completed by mid-2020, the expansion will increase unit capacity by more than 90 percent.
This expansion builds on Huntsman’s integrated amines capability and includes products for the polyurethane, oilfield, coatings and electronics markets. It will bring greater supply security and customer responsiveness, especially in the Americas, by shortening supply chains and product lead times.
In recent years, Huntsman, one of the world’s leading polyurethane catalyst providers, has seen interest in its JEFFCAT®low emission catalysts accelerate across the globe, and this latest investment follows the previously announced similar expansion completed in 2018 at its facility in Petfurdo, Hungary.
To address projected demand growth for these specialty amines, Huntsman is currently conducting an engineering study to build a new brownfield facility in either Europe or the United States that would increase its global capacity by 30 – 40%.
"This capacity and portfolio expansion will leverage our strongly-integrated manufacturing base to improve customer experience," said Monte Edlund, President, Huntsman Performance Products. "We are committed to providing excellent service to our cu
stomers, and to expanding our position as a leader in polyurethane catalysts and specialty amines across the globe," he added.
JEFFCAT® is a registered trademark of Huntsman Corporation or an affiliate thereof in one or more, but not all, countries.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2018 revenues more than $9 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 75 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 10,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 under the caption "Risk Factors" in th
e 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 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.