Huntsman Increases Polyurethane Catalyst and Specialty Amine Capacity in Petfurdo, Hungary
THE WOODLANDS, Texas - Huntsman Corporation (NYSE:HUN) today announced that its Performance Products division plans to further expand its manufacturing facility in Petfurdo, Hungary, to meet the growing demand for polyurethane catalysts and specialty amines. The multi-million USD investment project is anticipated to be completed by mid-2023. The brownfield facility is expected to increase Huntsman’s global capacity and to provide more flexibility and innovative technologies for the polyurethane, coatings, metalworking and electronics industries.
One of the world’s leading amine catalyst producers with over 50 years of experience in urethane chemicals, Huntsman has seen demand for its JEFFCAT® amine catalysts accelerate across the globe in recent years. These specialty amines are used in making everyday items like foam for automobile seats, mattresses, and energy-efficient spray foam insulation for buildings. Huntsman’s latest generation innovative product portfolio supports industry efforts to lower emissions and odors of consumer products and contributes to global sustainability efforts.
“This additional capacity builds upon our previous expansions to further improve our capability and expand our product range of polyurethane catalysts and specialty amines,” said Chuck Hirsch, Senior Vice President, Huntsman Performance Products. “With consumers increasingly demanding cleaner, eco-friendly solutions, this expansion will position us well for significant growth with these global sustainability trends,” he added.
Huntsman also is proud to have received a USD 3.8 million investment grant from the Hungarian government in support of this expansion project.
“We greatly appreciate this generous investment grant in support of our facility expansion in Hungary and look forward to working further with the Hungarian government to advance economic development in their country,” added Hirsch.
JEFFCAT® is a registered trademark of Huntsman Corporation or an affiliate thereof in one or more, but not all, countries.
About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2020 revenues of approximately $6 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 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.
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Forward-Looking Statements:
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 the 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, timing of proposed transactions, 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.
Released August 31, 2021