Huntsman and Zavod Sintanolov Partner to Develop Russian Personal Care and Detergent Markets
February 17 2009 - 8:30AM
PR Newswire (US)
Cooperation agreement will grow the two companies' surfactants
businesses THE WOODLANDS, Texas, Feb. 17 /PRNewswire-FirstCall/ --
Huntsman Corporation (NYSE:HUN) and Zavod Sintanolov today
announced that they have signed a cooperation agreement by which
both companies will share know-how, expertise and resources to
develop the Russian market for surfactants. According to the
agreement, the Performance Products division of Huntsman will
market and sell 50 percent of the anionic and amphoteric
surfactants manufactured in Zavod Sintanolov's newly-commissioned
plant in St Petersburg. Customers will include multinational
detergent and personal care product manufacturers operating in the
Russian Federation. The terms of the deal and plant's capacity were
not disclosed. "We are delighted to cooperate with a local
manufacturer in the Russian market and this agreement is a further
expansion of our Europe, Middle East and Africa (EMEA) supply-side
network, which already includes six manufacturing sites and two
joint ventures," said Daniele Ferrari, Vice President of Huntsman's
Performance Products division in EMEA. "This agreement will also
allow us to continue to support our key customers as they expand
geographically," he added. "Zavod Sintanolov is very pleased to
work with Huntsman, with its industry-leading experience in
surfactant technologies and markets, and we look forward to taking
advantage of the many synergies between our respective operations,"
said Sergey Rybalchenko, Director General of Zavod Sintanolov LCC.
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 2007 revenues of approximately $10
billion. For more information about Huntsman, please visit the
company's website at http://www.huntsman.com/. About Zavod
Sintanolov Zavod Sintanolov is a leading Russian producer of
surfactants. Since 2003 Zavod Sintanolov dynamically develops under
the trademark NORCHEM production of nonionic, amphoteric and
anionic surfactants as well as polyethylene glycols. Production
sites of the company are situated in the Nizhniy Novgorod and
St.Petersburg areas. The products of the company serve as an
important component in detergent industry, as raw material in
cosmetic, textile and pharmaceutical industries as well as find
application in metal working and machine building, light industry
and paint materials production. The products of the company are
well known in Russia, CIS-countries and Europe. More information
please find at http://www.norchem.ru/. Forward Looking Statement:
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. DATASOURCE: Huntsman Corporation
CONTACT: Media, Gary Chapman, +1-281-719-4324, or Investor
Relations, Kurt Ogden, +1-801-584-5959, for Huntsman Corporation
Web Site: http://www.huntsman.com/
Copyright
Huntsman (NYSE:HUN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Huntsman (NYSE:HUN)
Historical Stock Chart
From Sep 2023 to Sep 2024