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

Dow reaches agreement with Third Point

November 21, 2014 9:11 am ET

Dow Chemical Co. has reached an agreement with the investment firm that has been trying to force the company to sell off some assets.More

Image

Ineos making its UK shale play

November 21, 2014 9:29 am ET

Chemical giant Ineos Group AG is planning to be the biggest player in the United Kingdom's shale gas industry.    More

Image

Total to buy majority stake in Polyblend

November 20, 2014 10:04 am ET

French oil and gas giant Total SA will buy a 68 percent stake in Germany's Polyblend GmbH, a subsidiary of Polymer-Chemie GmbH.    More

Image

Silica can replace plastic microbeads

November 19, 2014 6:00 am ET

As cosmetics and soap makers face pressure to remove plastic microbeads from their products, Evonik Industries touts its new silica-based microbeads...    More

Chase Plastics building new Indiana distribution center

November 18, 2014 11:13 am ET

Resin distributor Chase Plastics will invest $5.4 million to build a new distribution center in South Bend, Ind.    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

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 Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

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