Huntsman Opens New Polyurethanes Systems House In Dubai
DUBAI, United Arab Emirates, Sept. 10, 2019 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today announced the opening of its new polyurethanes systems house in Dubai. Situated within the Jebel Ali Free Trade Zone (JAFZA), the purpose-built facility strengthens Huntsman's downstream capabilities in the Middle East and North Africa - increasing its capacity to produce polyurethane systems and polyester polyols for customers across the region.
The new systems house comprises a production area equipped with state-of-the-art manufacturing equipment plus blenders, reactors, filling stations, control room, offices and quality control laboratories. The facility will manufacture polyurethane foams for construction, insulation, appliances, bedding and furniture applications. It will also produce systems for the footwear industry; and prepolymers for coatings, adhesives, sealants and elastomers applications.
The site will also serve as the regional base for Huntsman's Demilec spray polyurethane foam (SPF) business. Demilec is a leading global manufacturer of SPF insulation used in commercial and residential properties to improve energy efficiency. The new systems house is equipped with a dedicated spray foam application and training center and will provide customers in the region with local technical and training assistance, fully supported by the global Demilec organization.
Tony Hankins, President of Huntsman's Polyurethanes division said: "This investment is the latest step in the expansion of our worldwide systems house capabilities, which underpin our downstream growth strategy. Constructing the new systems house at JAFZA brings us closer to our customers and gives us everything we need to expand our business in the Middle East and North Africa, including manufacturing competitiveness, infrastructure links and speed of response."
Steen Weien Hansen, Vice President for Europe, Africa, Middle East and India, further commented: "With a fast-growing population that is 90% urbanized, the UAE is a big importer of polyurethane for use in construction and building projects and the production of consumer goods. With the much-awaited EXPO 2020 Dubai just a year away, the booming construction sector will increase the import of polyurethane in the market directly contributing to the growth of Huntsman's business in the UAE."
Huntsman's other downstream businesses in the Middle East include Huntsman EMA - a systems house in Turkey; and Huntsman Arab Polyols Company, in Saudi Arabia - a joint venture with the BCI Group of Companies, in which Huntsman is the majority shareholder.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2018 revenues more than $9 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.
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
Released September 10, 2019