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

Report: Lanxess may cut 1,200 jobs

October 31, 2014 9:40 am ET

German chemicals company Lanxess AG may cut up to 1,200 jobs, around 7 percent of its workforce, as part of a group-wide overhaul to counter...    More

Image

PP prices rise, solid PS, PET drop

October 30, 2014 1:15 pm ET

North American polypropylene resin prices surged again in October, while regional prices for solid polystyrene and PET bottle resin continued their...    More

Image

Italian compounder opening first US plant

October 30, 2014 9:45 am ET

The song of the South has led Italian compounder So.F.Ter Group to open its first plant in the United States in Lebanon, Tenn.    More

Image

Ineos closing Barex plant, exiting business

October 29, 2014 3:58 pm ET

Materials maker Ineos Group is closing its only global Barex-brand polyacrylonitrile (PAN) resin plant in Lima, Ohio. Ineos – based in Rolle,...    More

Image

DSM picks Augusta, Ga., for nylon plant

October 29, 2014 11:49 am ET

Materials firm Royal DSM NV has chosen Augusta, Ga., as the site of its new North American nylon resin plant.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

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

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events