SHANGHAI, July 1, 2014 /PRNewswire/ -- Huntsman
Corporation (NYSE:HUN), BASF, Shanghai Hua Yi (Group) Company,
Shanghai Chlor-Alkali Chemical Co. Ltd. and SINOPEC Group Assets
Management Corporation plan to build a new plant to produce 240,000
metric tons of crude MDI (diphenylmethane diisocyanate) per year at
Shanghai Lianheng Isocyanate Co. Ltd. (SLIC) in Caojing,
China. With the new plant, the
crude MDI capacity at this site will be doubled to 480,000 metric
tons per year. In addition, the partners plan to build an HCl
(hydrogen chloride) recycling plant for the production of chlorine,
a precursor for MDI. The facility is expected to start up 2017.
MDI is an important precursor in the manufacture of
polyurethanes – versatile polymers that are used in industries like
construction, automotive, appliance, and footwear.
"The new crude MDI plant will further strengthen our ability to
provide our customers in the region with high quality, locally
manufactured products. It signals our confidence in the long term
prosperity of what is now the single largest market in the world as
well as our commitment to serve the growing needs of our
customers," said Peter Huntsman,
President and Chief Executive Officer of Huntsman.
The new plant, at the Shanghai Chemical Industry Park (SCIP) in
Caojing, will be adjacent to the existing integrated isocyanates
complex. This will enable the utilization and full access to raw
materials and energy.
Shanghai Lianheng Isocyanate Co. Ltd. (SLIC) has a production
capacity of 240,000 metric tons of crude MDI per year and includes
manufacturing facilities for the precursors aniline and
nitrobenzene built by Huntsman, BASF, Shanghai Hua Yi (Group)
Company, Shanghai Chlor-Alkali Chemical Co. Ltd. and SINOPEC
Shanghai Gaoqiao Company. Commercial production started in
2006.
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.
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SOURCE Huntsman Corporation