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Huntsman Forms Green Chemistry Strategic Business Unit

Published on 2006-04-18. Author : SpecialChem

The Woodlands, TX -- Huntsman Corporation (NYSE: HUN) announced that it has formed a new strategic business unit dedicated to the enhancement of the Company's Green Chemistry initiatives.

"Given the universal definition that Green Chemistry is the design of products and processes that reduce or eliminate the use or generation of hazardous substances, we have been avid devotees of Green Chemistry for several years," said Performance Products Division President, Don Stanutz. "Our new strategic business unit, working closely with the research and development professionals at the Huntsman Advanced Technology Center, will now help us to significantly ramp up our efforts."

Examples of Huntsman's existing green, or sustainable, chemistry products include propylene carbonate based solvents that reduce toxicity in applications from agriculture to industrial cleaning agents, carbonates that reduce volatile organic compounds in paints, wood preservatives that replace a known human carcinogen, waterborne paint primers, non-brominated flame retardants and catalysts that eliminate emissions from insulation foams.

Mr. Stanutz commented, "These are but a few of our current sustainable chemistry products and the possibilities for more are endless. We are especially anxious to build our position in this burgeoning field through the use of bio-based feedstocks such as glycerin, natural alcohols, methylesters, carbohydrates and sugars."

"One cannot speak about Green Chemistry without a discussion of energy conservation," Mr. Stanutz continued. "Huntsman is a major contributor to energy conservation through its creation of such products as more energy efficient insulation, lighter composites that enhance fuel efficiency in automobiles and aircraft, and lubrication additives that improve fuel economy through reducing friction."

"Energy efficiency and Green Chemistry are not only better for the environment, they make sound business sense," he concluded.

Huntsman is a global manufacturer and marketer of differentiated and commodity chemicals. Its operating companies manufacture basic products for a variety of global industries including chemicals, plastics, automotive, aviation, footwear, paints and coatings, construction, technology, agriculture, health care, textiles, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging, and later, rapid and integrated growth in petrochemicals, Huntsman today has 11,300 employees, 57 operations in 22 countries and had 2005 revenues of $13 billion.

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 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. Accordingly, there can be no assurance 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 securities and other applicable laws.

Source: Huntsman Corporation


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