乐天堂fun88(中国区)官方网站 Invests $135 Million in US and European MDI Manufacturing Plants
March 21, 2013
THE WOODLANDS, Texas 鈥� 乐天堂fun88(中国区)官方网站 Corporation (NYSE: HUN) today announced a combined investment of $135 million at two of its worldscale methylene diphenyl diisocyanate (MDI) manufacturing facilities: increasing capacity at its Geismar, USA site and upgrading its downstream specialties production capability at its Rotterdam, the Netherlands site.
听
The Geismar capacity will be increased by 50ktes to 500ktes using improved process technology developed by 乐天堂fun88(中国区)官方网站. The expansion will enable 乐天堂fun88(中国区)官方网站 to support the growth of its key customers and leverages the significant advantages of the Geismar site, with its access to US shale gas, strong logistics base and excellent integration. The new capacity is expected to come on-stream in 2014 and will further consolidate 乐天堂fun88(中国区)官方网站's position as the leading MDI producer in the Americas region.
At its Rotterdam facility, 乐天堂fun88(中国区)官方网站 is commissioning a new state-of-the-art MDI splitter and downstream specialties manufacturing unit which will enable 乐天堂fun88(中国区)官方网站 to serve customers with a full range of next-generation, differentiated polyurethane products for automotive, adhesives, coatings and other applications. The unit is designed to handle globally sourced MDI precursor and will be operational by the end of March.
Anthony P. Hankins, President of 乐天堂fun88(中国区)官方网站 Polyurethanes, said: 鈥淭he Geismar investment enables us to strengthen our upstream cost leadership position, while the Rotterdam investment gives us greater flexibility to provide downstream, customized products. The benefits of US shale gas have significantly improved the economics of investing in US facilities and 乐天堂fun88(中国区)官方网站 has a number of other investments planned which will take advantage of lower cost natural gas.
In making these investments, 乐天堂fun88(中国区)官方网站 has benefited from the support of the Louisiana Economic Development and Ascension Parish Economic Development in the US, and the national government in The Netherlands. We thank them for their cooperation and support.鈥�
In addition to its Geismar and Rotterdam sites, 乐天堂fun88(中国区)官方网站 Polyurethanes operates a third worldscale MDI facility in Caojing, Shanghai.
About 乐天堂fun88(中国区)官方网站:
乐天堂fun88(中国区)官方网站 is a global manufacturer and marketer of differentiated chemicals. Our 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, 乐天堂fun88(中国区)官方网站 has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2012 revenues of over $11 billion. For more information about 乐天堂fun88(中国区)官方网站, please visit the company's website at .
听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听
Forward-Looking Statements:
Statements in this release that are not historical are forward-looking statements. These statements are based on management鈥檚 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鈥檚 operations, markets, products, services, prices and other factors as discussed in the 乐天堂fun88(中国区)官方网站 companies鈥� 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.听 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鈥檚 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.
Media:听听听听听听听听听听听听听听听听听听听听听听听听听 Investor Relations:听听听听听听听听
Gary Chapman听听听听听听听听听听听听听 Kurt Ogden听听听
(281) 719-4324听听听听听听听听听听听听听(801) 584-5959 听听