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."
About Huntsman:
Huntsman Corporation is a publicly
traded global manufacturer and marketer of differentiated chemicals
with 2013 revenues of approximately $13
billion including the acquisition of Rockwood's performance additives and
TiO2 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 15,000 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-responds-to-inquiries-regarding-business-impact-of-lower-priced-oil-300016955.html
SOURCE Huntsman Corporation