Huntsman Bullish On Low Oil Prices
Huntsman Responds To Inquiries Regarding Business Impact Of Lower Priced Oil
THE WOODLANDS, Texas, Jan. 6, 2015 /PRNewswire/ – Huntsman Corporation's (NYSE: HUN) President and Chief Executive Officer, Peter R. Huntsman issued a statement today in response to inquiries regarding the business impact of lower priced oil.
"In an environment where oil prices are sustainably low, Huntsman Corporation will emphatically be a beneficiary over the long term. Many of our raw materials are derived from the oil refining process.
"We expect our margins to improve as the cost of our raw materials decrease. We also expect a meaningful working capital release which will help strengthen our balance sheet. Lower priced oil should provide more discretionary spending for consumers; approximately one third of our business is consumer oriented.
"We have a number of growth projects underway; I expect our business to improve throughout 2015."