THE WOODLANDS, Texas,
May 9, 2011 /PRNewswire/ -- Huntsman
Corporation (NYSE: HUN) and Wilmar International Limited (SGX: WIL)
today announced a Memorandum of Understanding between their
respective subsidiaries for Wilmar to build a state-of-the-art
natural alcohol plant at Huntsman's chemical site in Rozenburg
(Rotterdam, The Netherlands), and
to supply natural alcohols to Huntsman. The facility is scheduled
to come on stream by 2013.
The plant will be owned and operated by Wilmar, one of
Asia's leading agri-commodities
companies and one of the world's largest oleochemicals businesses.
The project is subject to receipt of the relevant permits and
regulatory approvals.
Peter Huntsman, President and CEO
of Huntsman Corporation, said: "We are delighted to partner with
Wilmar at our Rozenburg site, where we already host a number of
other enterprises. This project will be mutually beneficial,
greatly strengthening the relationship between our two companies
and will enable Huntsman to further grow our green chemistry
offer."
Mr. Kuok Khoon Hong, Chairman and
CEO of Wilmar International Limited, said: "Huntsman Rozenburg's
85-hectare site in the Europoort area of Rotterdam is very impressive. It has
excellent infrastructure and is located at the heart of the world's
second largest industrial area. We look forward to being more
involved in the local chemical community and strengthening our
foothold in Europe, including for
bio-based chemicals, with a brand new natural alcohol plant."
About Wilmar
Wilmar International Limited, founded in 1991 as a palm oil
trading company, is today amongst the largest listed companies by
market capitalization on the Singapore Exchange and one of
Asia's leading agribusiness
groups. The Group's business activities include oil palm
cultivation, oilseeds crushing, edible oils refining, sugar,
specialty fats, oleochemicals and biodiesel manufacturing and
grains processing. Headquartered in Singapore, Wilmar has over 300 manufacturing
plants and an extensive distribution network covering China, India,
Indonesia and some 50 other
countries to support a well established processing and
merchandising business. Wilmar also manufactures and distributes
fertilizers and owns a fleet of vessels. The Group is backed by a
multi-national staff force of more than 88,000 people. For further
information about Wilmar, please visit the company's web site at
www.wilmar-international.com.
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
approximately 12,000 employees and operates from multiple locations
worldwide. The Company had 2010 revenues of over $9 billion. 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