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

Huntsman closing four pigment plants

March 5, 2015 3:36 pm ET

Huntsman Corp. is closing four plants — three in the U.S. and one in Germany — that make pigments for plastics and other markets.    More

Image

Bayer to stop MDI production in Brazil

March 4, 2015 9:21 am ET

Bayer AG's Bayer MaterialScience plans to stop production of MDI polyurethane at its plant near Rio de Janeiro in July, removing 55 metric tons per...    More

Image

Best Places To Work: No. 6, Colors For Plastics

March 4, 2015 12:35 pm ET

Colors For Plastics, which now employs 115 people, started with one man who handled everything.    More

Image

Ineos to combine ABS unit with Styrolution in Americas

March 4, 2015 10:03 am ET

Global materials firm Ineos Group will combine its ABS resin business with its Styrolution unit in the Americas.    More

Image

Obituary: Guido Ghisolfi, PET company executive

March 4, 2015 9:47 am ET

Guido Ghisolfi — a top executive with global PET resin leader Mossi & Ghisolfi Group — has died from an apparent suicide.    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

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 billion 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

Upcoming Plastics News Events

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

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

More Events