Huntsman Launches New World Scale JEFFAMINE(R) Polyetheramine Plant to Serve Asia Pacific
THE WOODLANDS, Texas, Oct. 30 /PRNewswire-FirstCall/ -- Huntsman Corporation (NYSE: HUN) today formally opened its new world-scale JEFFAMINE(R) polyetheramine manufacturing facility at Jurong Island, Singapore. The plant, which was commissioned and began production in June, is the Company's first production site in Singapore and will produce 16,000 tons of polyetheramines per year.
"From our vantage point as a leading polyetheramine producer for the U.S. and European markets for several decades, we were well-positioned to anticipate the growth potential for the product in the Asia Pacific region, especially in epoxy curatives and polyurea coatings," said Peter Huntsman, President and CEO of Huntsman Corporation. "This new $40 million facility will be a key platform for us as we continue to support our customers' global growth."
Key JEFFAMINE(R) polyetheramine applications include epoxy coatings, concrete additives, organic pigments, fuel and lubricant additives, herbicides and pesticides. The new plant includes Huntsman's latest proprietary amine technology to ensure safety and environmental performance.
Singapore was selected as the regional hub for Huntsman's Performance Products division due to its favorable business environment, which offers strong intellectual property protection, a highly skilled workforce, excellent connectivity and a world class infrastructure.
"The Singapore plant, which complements Huntsman's existing polyetheramine manufacturing facilities in Conroe, Texas, and Llanelli, Wales, gives us a truly global manufacturing footprint for polyetheramines, and provides a regional source for our customers with operations in the rapidly growing Asia Pacific market," stated Don Stanutz, President of the Performance Products Division.
About Huntsman:
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 13,000 employees and operates from multiple locations worldwide. The Company had 2006 revenues of over $13 billion. For more information about Huntsman, please visit the company's website at http://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 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 October 30, 2007