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

Barington may force a vote for Omnova board at annual meeting

January 28, 2015 3:52 pm ET

It looks like the battle between Omnova Solutions and an activist investor is heading to a vote.    More

Image

PolyOne sees sales, earnings per share climb, profit decline

January 28, 2015 3:00 pm ET

North American compounding leader PolyOne Corp. posted record adjusted earnings per share in 2014, even as the firm's sales saw modest growth and its ...    More

Image

China XD to catch up on Sichuan project

January 28, 2015 2:41 pm ET

Automotive compounder China XD Plastics Co. Ltd. (Nasdaq: CXDC) has been working on its fourth production base in Nanchong, Sichuan province since...    More

Image

Sika opens negotiations to acquire Axson Technologies

January 28, 2015 12:17 pm ET

Specialty chemicals maker Sika AG has entered into exclusive negotiations with Axson SAS management and shareholders to acquire its epoxy and...    More

Image

Citadel opens second compounding facility in China, near Shanghai

January 27, 2015 3:22 pm ET

Citadel Plastics Inc., the American manufacturer of thermoplastic and engineered composite compounds, has opened its second facility in China, outside...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

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

More Events