THE WOODLANDS, Texas,
Aug. 15, 2014 /PRNewswire/
-- Huntsman Corporation (NYSE: HUN) announced today that it
experienced an unplanned manufacturing disruption on a production
unit at its facility in Port
Neches, Texas. There were no injuries resulting from
the incident.
The disruption occurred on Thursday
August 14 and was caused by equipment failure.
The Port Neches facility
manufactures methyl tertiary butyl ether (MTBE), propylene oxide
(PO) and propylene glycols (PG). The manufacturing disruption
also impacts internal PO supply to downstream MDI systems, amines,
surfactants and propylene oxide derivatives. The affected
unit is expected to be off-line for two to three weeks, with an
estimated negative impact of $30
million EBITDA for Huntsman's Polyurethanes and Performance
Products divisions.
It is yet to be determined whether this will impact the planned
maintenance scheduled for the first half of 2015.
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. 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