CALAIS, France, Jan. 28, 2011 /PRNewswire/ -- The Pigments
division of Huntsman Corporation (NYSE: HUN) today announced that
it has agreed in principle to an investment of circa EUR 30 million to build a new magnesium sulfate
fertilizer manufacturing operation at the division's titanium
dioxide (TiO2) pigments manufacturing plant in Calais, France. The investment is approved in
principle and is subject to the finalization of a number of
elements including the granting of permits and securing additional
finance, which are all on track.
The new fertilizer plant will use spent acid from pigment
manufacturing operations at Calais and will enable the closure of
half the Calais Effluent Treatment Plant (ETP). The operation
of the fertilizer plant will deliver major environmental benefits
in the form of lower energy consumption and it will also reduce the
carbon dioxide emissions at the site. These environmental benefits
are coupled with cost reductions that add to the transformation in
the efficiency, sustainability and cost effectiveness of the entire
Calais site.
President of Huntsman Pigments, Simon
Turner said, "We have approved this investment in principle
as we can clearly see the significant benefits it will bring. It
makes sense from an efficiency and cost point of view and there is
also a very compelling sustainability case as this project will
reduce site energy consumption and carbon dioxide emissions.
Further, it will significantly strengthen the business and make
Calais more competitive in European and global markets. The
approval of this project is very positive for the site, for the
Calais region, and for the nation. We look forward to the safe
construction, start-up, and operation of this new facility within
the next few years."
Scott Anderson, Huntsman
Pigments' vice president for manufacturing and technology, said,
"The agreement in principle of the investment from Huntsman and the
strong support we have received from all authorities and the
government, clearly demonstrates our joint commitment to our site
at Calais and the Calais region. This is a great step forward. It
is important that we recognize the role of our associates, whose
joint efforts deliver success for the site. Their support has been,
and continues to be, a key factor in ensuring a positive outcome
for this project. I thank everyone working on this project,
internally and externally, and look to the entire team for their
continued effort and assistance, which to date has been
exemplary."
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 more than 11,000 employees and
operates from multiple locations worldwide. The Company had
2009 revenues of approximately $8
billion. For more information about Huntsman, please
visit the Company's website at
www.huntsman.com.
Huntsman Pigments division specializes in the manufacture and
marketing of titanium dioxide (TiO2) pigments that add brightness,
whiteness and opacity to thousands of consumer products; from
household decorative paints and industrial coatings on ocean
liners, cars and steel-framed buildings, to computer housing,
printing inks and sporting equipment. Huntsman's Pigments
business has been making TiO2 pigments for 75 years. Huntsman
Pigments division is an international business employing around
2,000 people in facilities in seven countries with a combined total
manufacturing capacity of approximately 600,000 tonnes of TiO2
pigment a year. For further information about Huntsman
Pigments, please visit our website
www.huntsman.com/pigments
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