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Happenings / News / Press Coverage

05 Aug 2010
Huntsman Releases Second Quarter 2010 Results

IMPROVED DEMAND LEADS TO SECOND QUARTER EARNINGS OF: $116 MILLION IN NET INCOME AND $257 MILLION IN ADJUSTED EBITDA

Second Quarter 2010 Highlights

Revenues for the second quarter of 2010 were $2,343 million, an increase of 27% compared to $1,846 million for the same period in 2009 and an increase of 12% compared to $2,094 million for the first quarter of 2010.
Adjusted EBITDA for the second quarter of 2010 was $257 million compared to $93 million for the same period in 2009 and $123 million for the first quarter of 2010.
Net income attributable to Huntsman Corporation for the second quarter of 2010 was $114 million or $0.47 per diluted share. This compares to net income attributable to Huntsman Corporation of $406 million or $1.51 per diluted share for the same period in 2009 (including $531 million of net income or $2.27 per diluted share related to our terminated merger and related litigation) and $172 million loss or $0.73 loss per diluted share for the first quarter of 2010.
Adjusted net income for the second quarter of 2010 was $75 million or $0.31 per diluted share. This compares to an adjusted net loss of $66 million or $0.28 loss per diluted share for the same period in 2009 and adjusted net loss of $16 million or $0.07 loss per diluted share for the first quarter of 2010.
Adjusted net income and adjusted EBITDA for the second quarter 2010 includes a non-recurring $15 million pre-tax benefit to appropriately reflect our investment in the Sasol-Huntsman maleic anhydride joint venture. Adjusted net income also includes a $15 million pre-tax one time reduction to interest expense related to a cross currency swap. The combined effect of these non-recurring items was approximately $0.09 per diluted share.

31 Jul 2010Huntsman to Purchase Chemicals Business of Laffans Petrochemicals Ltd.

The Woodlands, TX – Huntsman Corporation (NYSE: HUN) today announced that the company has entered into a definitive agreement to acquire the chemicals business of Laffans Petrochemicals Ltd.

Located in Ankleshwar, India the Laffans chemicals business manufactures amines and surfactants. The chemicals business has 130 employees and annual sales of approximately $45 million. The acquisition is subject to certain terms and conditions and is expected to occur in the first half of 2011. The Laffans chemicals business will be integrated into the Performance Products division and is expected to be immediately accretive to earnings.

Commenting on the transaction, Daniele Ferrari, President of the Performance Products Division, said, “In addition to the recently announced expansion of our polyetheramine facility in Singapore, the acquisition of this business is strategically important as we look to meet the rapid growth in demand for other amines within Asia. A stronger manufacturing presence in India will enable us to better support our customers and their growth specifically within the Indian economy. This acquisition will bring total annual Huntsman Corporation sales in India to approximately $260 million or 3% of total sales. The Laffans chemical business is complementary to our existing technology and product offering and introduces exciting potential for additional product development.”

Financial details of the transaction were not disclosed.

	Fact Sheet Year of Establishment : 2000 Nature of Business : Manufacturer Number of Employees : 51 to 100 People Turnover : US$ 25-100 Million (or Rs. 100-400 Crore Approx.)

Contact Details

Company Name: Hunts Man Contact Person: Mr. Peter R. Huntsman Telephone: +(91)-(22)-40951556 / 40951557 / 40951558 Mobile / Cell Phone: +(91)-9819200907 Fax No: +(91)-(22)-40951300 Address: Building No. 10, 5th Floor, Solatire Corporation. Park 167, Guru Hargovindji Marg, Chakala, Andheri, East, Mumbai, Maharashtra - 400 093 (India)