News Release
18 Jan 2008
Huntsman Announces Titanium Dioxide Price Increases in Asia Pacific
Billingham, UK - The Pigments business of Huntsman Corporation (NYSE:HUN) today announced that it will increase prices of all TIOXIDEŽ titanium dioxide pigments in Asia Pacific by $200 per metric ton (USD), effective from 18th January 2008.
This increase is in addition to the previous increase announced on 28th September 2007.
Huntsman said that whilst the Titan programme is delivering productivity and efficiency improvements, the scale, magnitude and volatility of input cost increases are at unprecedented levels and the business cannot continue to absorb the costs.
Simon Turner, Sales Vice President of Huntsman Pigments said that Huntsman urgently needs to pass on these increases to avoid further erosion of profitability and that this will be discussed in more detail by a Huntsman sales representative with individual customers.
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 13,000 employees and operates from multiple locations worldwide. The Company had 2006 revenues of over $13 billion. For more information about Huntsman, please visit the company's website at www.huntsman.com.
About Huntsman Pigments Division
Huntsman Pigments Division specialises in the manufacture and marketing of TIOXIDEŽ titanium dioxide pigments, a brand with an exceptional reputation for excellence and consistency, trusted and recognised through out the world. TIOXIDEŽ titanium dioxide pigments add brightness, whiteness, opacity and durability to thousands of consumer products; from decorative paints used in the home to industrial coatings on ocean liners, cars and steel-framed buildings; from nappies and toothpaste to printed circuit boards and computer housing; from sportswear and sporting equipment to racing boat hulls. Huntsman Pigments Division is an international business employing 2,600 people world-wide in factories in seven countries with a combined total manufacturing capacity of approximately 550,000 tonnes a year.
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.
Contact:
Simon Turner - VP Sales, Tel: +44(0)1642 376 293
Read news about Huntsman opening a new titanium dioxide pigments plant in the UK from Science Direct.
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View financial information for Huntsman at Google Finance.
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