Huntsman Receives Top Designation for Mitigating Risk at Port Neches PO/MTBE Unit
March 18, 2014
THE WOODLANDS, Texas – The Polyurethanes division of Huntsman Corporation (NYSE:HUN) announced today that the propylene oxide/methyl tertiary-butyl ether (PO/MTBE) unit at its Port Neches, Texas, facility has received the top designation for asset protection from industrial and commercial property insurer FM Global.
This ‘Highly Protected Risk’ (HPR) designation marks the completion of a three-year, $15 million retrofit primarily designed to improve the PO/MTBE unit’s fire protection systems. The retrofit began in 2011 as part of Huntsman’s corporate commitment to reducing its risk profile in partnership with FM Global. Huntsman installed automatic sprinkler/deluge systems and other supporting infrastructure equipment designed to protect key vessels and equipment from fire exposure.
FM Global awards HPR status to properties with a much lower than normal probability of loss due to property type, superior process safety management, natural hazard protection, automatic fire mitigation systems and management commitment to loss prevention. Representatives from FM Global will present the award during a ceremony at the facility on March 18.
“Huntsman continually looks for ways to mitigate risk at all of our facilities, and this designation validates our commitment to the health and safety of our employees and the communities we serve,” said Ron W. Gerrard, senior vice president, Huntsman Environmental, Health & Safety and Manufacturing Excellence.
Huntsman’s Port Neches PO/MTBE unit has a daily production capacity of 1.5 million pounds of PO and 4.8 million pounds of MTBE. The Port Neches Site is Huntsman’s largest facility worldwide and contains the company’s only PO/MTBE processing unit.
Propylene oxide is a key raw material in the production of p
olyurethane systems and propylene glycol. Polyurethanes are used for comfort foams, energy saving insulation and many other applications; propylene glycol is a non-toxic material for aircraft wing de-icers, foods and personal care products.
“Huntsman is involved in the construction of two new PO/MTBE units in China and we look forward to utilizing best practice risk mitigation learned from the Port Neches Site at these new plants,” said Doug Culpon, vice president, Global PO/MTBE.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2013 revenues of over $11 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 80 manufacturing and R&D facilities in 30 countries and employ approximately 12,000 associates within our five distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Forward Looking Statements:
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 de
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