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Huntsman opens multi-purpose facility

Released at: 11:29, 28/08/2018

Huntsman opens multi-purpose facility

Photo: Huntsman

US-based chemicals provider opens facility at Amata Vietnam Industrial Park near HCMC.

by Minh Do

The Huntsman Corporation (NYSE: HUN) announced on August 24 it has opened a multi-purpose facility at the Amata Vietnam Industrial Park near Ho Chi Minh City.

The site is a greenfield investment, will house Huntsman’s polyurethanes and advanced materials businesses, and comprises manufacturing, R&D capabilities, a technical services center, a warehouse and distribution space, and a commercial office.

“Vietnam is one of the largest and fastest-growing countries in Asia-Pacific,” said Mr. Tony Hankins, Huntsman’s CEO Asia Pacific and President of the polyurethanes business. “In polyurethanes, we’ve seen double digit growth for a sustained period and fully expect this to continue. At the new site, we will manufacture formulated systems for the footwear and automotive markets, rigid insulation foam used in construction and cold chain applications, and simulated wood for the furniture market. These products will be consumed primarily in Vietnam, with the balance being exported to Cambodia. The facility will enable Huntsman to collaborate more effectively with Vietnamese customers and will also strengthen our strategy of globalizing downstream bolt-on acquisitions.”

“This is the first manufacturing expansion investment outside of China for our business in Asia-Pacific and we see many opportunities in Vietnam to support large-scale infrastructure and construction projects in one of the fastest-growing economies in the region,” said Mr. Scott Wright, President of Huntsman’s advanced materials business. “The new plant will give us the capability to efficiently supply customers across the ASEAN region with high quality electrical insulation, coatings, and adhesive solutions that will ensure these ambitious projects are implemented successfully.”

In addition to this facility, Huntsman has a distribution warehouse located in the inland container depot at Long Binh in southern Dong Nai Province and a site in Hanoi that offers technical services and comprises warehouse and distribution space and a commercial office.

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals, with 2017 revenues at more than $8 billion. Its chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. It operates more than 75 manufacturing, R&D, and operations facilities in approximately 30 countries and employs some 10,000 associates within its four distinct business divisions.

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