Huntsman plastics units report mixed results for 2012

By Frank Esposito
Senior Staff Reporter

Published: February 12, 2013 1:48 pm ET
Updated: February 12, 2013 1:51 pm ET

Related to this story

Topics Materials, Polyurethane, Materials Suppliers
Companies & Associations Huntsman Corp.

THE WOODLANDS, TEXAS -- Huntsman Corp.'s plastic-related businesses saw mixed results in 2012, with polyurethane improving and advanced materials -- including epoxy -- declining.

Total corporate sales for Huntsman were flat at about $11.2 billion in 2012. But the firm, which is based in The Woodlands, saw its full-year profit jump almost 47 percent to $373 million.

Huntsman's PU unit saw a 2012 sales gain of more than 10 percent to almost $4.9 billion, while the unit's pretax profit soared more than 60 percent to $772 million. PU was the largest of Huntsman's five operating units in 2012, generating almost 44 percent of total sales.

The firm's advanced materials unit struggled, however, with sales dropping 3 percent to about $1.3 billion and pretax profit slipping 17 percent to $92 million.

In a Feb. 12 news release, President and CEO Peter Huntsman said that the firm's 2012 adjusted pretax profit of $1.4 billion "represents record earnings for our current configuration of businesses."

"I am very enthusiastic about the direction in which the company is headed." he added. "Within our largest division — polyurethanes — our MDI [feedstock] business is growing at attractive rates, and future prospects are pointing towards tighter market conditions."

Company officials added that in the fourth quarter of 2012, MDI sales volumes increased primarily from strong demand globally for insulation and from the housing and automotive recovery in North America.

Huntsman's fourth-quarter and full-year results weren't met favorably by Wall Street, however. The firm's per-share stock price was down almost 6 percent to less than $18 in early trading Feb. 12. It had been under $12 as recently as mid-2012.


Comments

Huntsman plastics units report mixed results for 2012

By Frank Esposito
Senior Staff Reporter

Published: February 12, 2013 1:48 pm ET
Updated: February 12, 2013 1:51 pm ET

Post Your Comments


Back to story


More stories

Image

Foster building medical polymers plant

September 19, 2014 1:39 pm ET

Foster Delivery Science is investing $8 million in a new plant in Putnam, Conn., for production of medical polymer blends, as well as rods, film or...    More

Image

BP to restart damaged PTA unit in limited capacity by November

September 19, 2014 10:27 am ET

British Petroleum plc may restart its fire-damaged purified terephthalic acid (PTA) feedstock unit in South Carolina in late October or early...    More

Image

Bayer spinning off plastics business

September 18, 2014 8:49 am ET

Bayer AG will spin off its MaterialScience plastics group into a separate, publicly-traded company within the next 12 to 18 months.    More

Image

Investor group wants DuPont to split in two

September 18, 2014 7:37 pm ET

Investment firm Trian Fund Management LP is calling for plastics and chemicals giant DuPont Co. to split itself into two firms, one of which would...    More

Image

Minnesota receives grant to help develop new bioplastics

September 17, 2014 4:08 pm ET

The University of Minnesota has received a $20 million grant to fund the development of new types of bioplastics.    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events