Huntsman Corp. (HUN) Reports Unplanned Disruption at Port Neches Facility; Sees Impact of $30M EBITDA

Huntsman Corp. (NYSE: HUN) announced that it experienced an unplanned manufacturing disruption on a production unit at its facility in Port Neches, Texas. There were no injuries resulting from the incident.

The disruption occurred on Thursday August 14 and was caused by equipment failure.

The Port Neches facility manufactures methyl tertiary butyl ether (MTBE), propylene oxide (PO) and propylene glycols (PG). The manufacturing disruption also impacts internal PO supply to downstream MDI systems, amines, surfactants and propylene oxide derivatives. The affected unit is expected to be off-line for two to three weeks, with an estimated negative impact of $30 million EBITDA for Huntsman's Polyurethanes and Performance Products divisions.

It is yet to be determined whether this will impact the planned maintenance scheduled for the first half of 2015.

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