Huntsman IDA Update
Huntsman Announces Update on the Hurricane Ida Impact to its Operations
Download as PDF September 07, 2021 7:30pm EDT
THE WOODLANDS, Texas, Sept. 7, 2021 /PRNewswire/ — Huntsman Corporation (NYSE: HUN) today disclosed that Hurricane Ida caused no significant damage to its Geismar, Louisiana manufacturing facility. The Geismar facility manufactures products for Huntsman’s Polyurethanes and Performance Products divisions and all units were shutdown orderly and safely before Hurricane Ida made landfall. Site personnel are currently preparing the production units for restart. The precise timing of the restart of each unit is dependent on the availability of utilities and the ability of other third-party suppliers to restart their respective operations. Currently, the Company’s best estimate is that production comes back online slowly this coming weekend with an increase in rates next week. Under this timeline, the Company currently anticipates that the estimated impact from Hurricane Ida to third quarter 2021 EBITDA will be offset by strength in the broader Performance Products division and the European and Asian MDI markets.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2020 revenues of approximately $6 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 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company’s website at www.huntsman.com.