SHANGHAI, Feb. 27, 2014 /PRNewswire/ -- Huntsman
Corporation (NYSE: HUN) held an inauguration ceremony today to mark
the official opening of its new thermoplastic polyurethanes
(TPU) production facility at the Jinshan Second Industry Zone in
Shanghai, China.
The 21,000 m2 plant, which cost $20 million, is Huntsman's first TPU production
facility in the Asia Pacific
region and complements the company's existing TPU plants in the
USA and Germany. The facility has been built to
service the region's fast-growing demand for TPUs, which are used
in an extensive range of consumer and industrial applications,
including sports footwear and clothing, automotive interior parts
and glass lamination.
Commenting on the new plant, Asia Pacific CEO and President of
the Polyurethanes' division, Tony
Hankins, said: "China has
become the largest market for TPU products and this new facility
will significantly improve our supply capabilities, enabling us to
respond more quickly and effectively to the needs of our partners
in the region. The investment reflects our long-term commitment to
our local customers and builds on the division's strategy of
strengthening our downstream capabilities."
About Huntsman:
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 5 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 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