HO CHI MINH CITY, Vietnam,
Aug. 22, 2018 /PRNewswire/
-- Huntsman Corporation (NYSE: HUN) announced today that it
has opened a multi-purpose facility at the Amata Vietnam Industrial
Park, near Ho Chi Minh City,
Vietnam. The site is a greenfield investment, will house
Huntsman's Polyurethanes and Advanced Materials businesses, and
comprises manufacturing; R&D capabilities; a technical service
center; warehouse and distribution space and a commercial
office.
Commenting on the new facility, Huntsman's CEO Asia Pacific and
President of the Polyurethanes business, Tony Hankins, said: "Vietnam is one of the largest and fastest
growing countries in Asia Pacific.
For Polyurethanes, we've seen double digit growth rates for a
sustained period and fully expect this to continue. At the
new site, we'll manufacture formulated systems for the footwear and
automotive markets; rigid insulation foam used in construction and
cold chain applications; and simulated wood for the furniture
market. These products will be consumed primarily in Vietnam, with the balance being exported to
Cambodia. The facility will enable
Huntsman to collaborate more effectively with Vietnamese customers
and will also strengthen our strategy of globalizing downstream
bolt-on acquisitions."
Scott Wright, President of
Huntsman's Advanced Materials business added: "This is the first
manufacturing expansion investment outside China for our business in Asia Pacific and we see many opportunities in
Vietnam to support large-scale
infrastructure and construction projects in one of the fastest
growing economies in the region. The new plant will give us the
capability to efficiently supply customers across the ASEAN region
with high quality electrical insulation, coatings and adhesive
solutions that will ensure these ambitious projects are implemented
successfully."
In addition to this facility, Huntsman has a distribution
warehouse located in the inland container depot at Long Binh -
Dong Nai Province, and a site in
Hanoi which offers technical
service and comprises warehouse and distribution space and a
commercial office.
About Huntsman:
Huntsman Corporation is a publicly traded global
manufacturer and marketer of differentiated and specialty chemicals
with 2017 revenues of more than $8 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 75 manufacturing,
R&D and operations facilities in approximately 30 countries and
employ approximately 10,000 associates within our four distinct
business divisions. For more information about Huntsman, please
visit the company's website at www.huntsman.com.
Social Media:
Twitter: www.twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman
Forward-Looking Statements:
Certain information in
this release constitutes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. 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 under the
caption "Risk Factors" 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, volatile
global economic conditions, cyclical and volatile product markets,
disruptions in production at manufacturing facilities,
reorganization or restructuring of Huntsman's operations, including
any delay of, or other negative developments affecting the ability
to implement cost reductions and manufacturing optimization
improvements in Huntsman businesses and realize anticipated cost
savings, and other 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.
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SOURCE Huntsman Corporation