THE WOODLANDS, Texas,
Sept. 26, 2011 /PRNewswire/ --
Huntsman Corporation (NYSE: HUN) today announced that it will
invest approximately $40 million to
build a new Asia Pacific Regional Technology Center (ATC) in
Shanghai's Minhang Economic &
Technological Development Zone, to support the rapidly growing
demand for world-class technology and innovation from customers
across the Asia Pacific
region.
The state-of-the-art facility will comprise machine halls,
laboratories and offices, accommodating up to 400 technical
experts, and will replace the existing Technology Center, located
nearby, which was first opened in September
2008. This facility will complement existing
Technology Centers in The Woodlands,
Texas and Brussels, Belgium
as well as smaller regional centers.
Construction for the new ATC is expected to commence in
January 2012, with completion planned
for mid-2013. In parallel, part of the existing Technology
Center will be converted into an auditorium and display area, which
together with the new facility will form an integrated technology
and innovation campus.
Anthony P Hankins, Huntsman's CEO Asia Pacific commented: "The
expansion of our research and technology capability in this key
region reflects Huntsman's desire and commitment to grow in
partnership with our customers by delivering innovative solutions
more effectively and efficiently. The Huntsman technology center
will be completely aligned to support Asia's fast-growing industries, including
developing new energy-saving material solutions for the strategic
industries as outlined in China's
12th Five-Year Plan."
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