The Woodlands, TX – Huntsman Polyurethanes, an international business unit of Huntsman Corporation (NYSE: HUN), announced today that it will increase prices in all market segments for polyols and polyol blends by $0.06/lb, on October 1, 2005 or as contracts allow.
Huntsman said the price increase reflects high raw material costs, particularly with propylene oxide, ethylene oxide, and many of the initiators.
Huntsman Polyurethanes is a business division of Huntsman Corporation. Huntsman is a global manufacturer and marketer of differentiated and commodity chemicals. Its operating companies manufacture basic products for a variety of global industries including chemicals, plastics, automotive, aviation, footwear, paints and coatings, construction, technology, agriculture, health care, textiles, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging, and later, rapid and integrated growth in petrochemicals, Huntsman today has 11,300 employees, 57 operations in 22 countries and had 2004 revenues of $11.5 billion.
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 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. Accordingly, there can be no assurance that the company’s expectations will be realized. The company assumes no obligation to provide revisions to any forward-looking statements should circumsta
nces change, except as otherwise required by securities and other applicable laws.