Huntsman And Sinopec Form Joint Venture To Build And Operate PO/MTBE Facility In Nanjing, China
PO is an intermediate compound used to make high value polyurethane materials ranging from energy efficient home insulation and building materials to comfort foams for automobiles and furniture. MTBE is a clean burning fuel additive that improves gasoline engine performance and reduces air pollution.
Huntsman will own 49 percent of the joint venture, and Sinopec will own 51 percent. The facility will produce 550 mm lbs of PO and 1.6 billion lbs of MTBE at a capital cost of approximately
Commenting on the agreement,
Huntsman's Polyurethanes division has world scale production facilities in the U.S.,
Huntsman 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, Huntsman has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2011 revenues of over
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
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