Huntsman Inks Licensing Deal With Thai Ethanolamines Company
Licensee Benefits from Technology and Industry Experience
THE WOODLANDS, TEXAS - Huntsman Corporation (NYSE: HUN) today signed commercial licensing agreements with Thailand’s first producer of ethanolamines, Thai Ethanolamines Co., Ltd. (TEA).
TEA will benefit from Huntsman’s quarter century of experience as a global manufacturer and marketer of differentiated and commodity chemicals and, specifically, in operating ethanolamine technologies.
“Licensing with Huntsman means TEA will get more than just the technology,” said Don Stanutz, President of Huntsman Corporation Performance Products division. “It means they also receive Huntsman’s industry experience to back it up. Our licensees often favor Huntsman over other licensors because of our ability to draw upon our experience using comparable technology in our own plants, and our ongoing interest to continue making technical advances to make our plants, and theirs, even more productive. We are very excited about the potential of this agreement.”
TEA, a wholly owned subsidiary of Thailand-based PTT Chemical (SET: PTTCH), is a producer of ethanolamines, which have applications in industries ranging from paint, pharmaceuticals, and cosmetics to cement, detergents, and fabric softeners.
Under the terms of the agreement Huntsman will provide more than just a license for its technology. Services begin with plant inception and continue through plant design and first day operations by providing on-site start-up assistance to help ensure success. As a result, the total value to the licensee goes well beyond the patented technology, and includes access to Huntsman’s unpatented process know-how and expertise.
“We understand a licensee’s need for consistent and efficient chemical production because we work our technology on a daily basis. We’re not an outsider looking in, we’re a significant player in the market,” said Stanutz. “We truly understand the market dynamics of end products and the need for profitable returns.”
Huntsman is a global manufacturer and marketer of differentiated and commodity 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, rapid and integrated growth in petrochemicals, Huntsman today has 15,000 employees and 78 operations in 24 countries. The Company had 2005 revenues of $13 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 circumstances change, except as otherwise required by securities and other applicable laws.