THE WOODLANDS, Texas, Sept. 30,
2015 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN)
announced today that its board of directors has authorized the
repurchase of up to $150 million of
the company's common stock.
Peter R Huntsman, President and CEO, commented: "This
share repurchase program is an expression of confidence in the
company's long term future and ability to generate further
shareholder value. We are reviewing our current capital plan for
2016 and 2017 and believe we can reduce capital expenditures and
improve working capital commensurate with the costs of the
repurchase program. As we complete our remaining cost reduction
objectives of more than $100 million
and complete various capital projects early next year, we will see
the benefits of these measures as well."
Repurchases may be made from time to time through open market
transactions, in privately negotiated transactions, accelerated
share repurchase programs or by other means. The timing and actual
number of any shares repurchased will depend on a variety of
factors, including market conditions. The share repurchase
authorization does not have an expiration date and repurchases may
be commenced, suspended or discontinued from time to time without
prior notice.
About Huntsman:
Huntsman Corporation is a publicly
traded global manufacturer and marketer of differentiated chemicals
with 2014 revenues of approximately $13
billion including the acquisition of Rockwood's performance
additives and titanium dioxide businesses. 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 100 manufacturing and R&D
facilities in more than 30 countries and employ approximately
16,000 associates within our 5 distinct business divisions. For
more information about Huntsman, please visit the company's website
at www.huntsman.com.
Social Media:
Twitter:
twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman
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. The company assumes no obligation to provide
revisions to any forward-looking statements should circumstances
change, except as otherwise required by applicable laws.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/huntsman-announces-share-repurchase-program-300152205.html
SOURCE Huntsman Corporation