THE WOODLANDS, Texas -- Huntsman Corporation (NYSE: HUN
- News) signed commercial licensing agreements with Thailand's first producer
of ethanolamines, Thai Ethanolamines Co., Ltd. (TEA).
TEA will benefit from Huntsman's quarter century of experience
as a global manufacturer and marketer of differentiated and commodity chemicals
and, specifically, in operating ethanolamine technologies.
"Licensing with Huntsman means TEA will get more than just the technology,"
said Don Stanutz, President of Huntsman Corporation Performance Products division.
"It means they also receive Huntsman's industry experience to back it
up. Our licensees often favor Huntsman over other licensors because of our
ability to draw upon our experience using comparable technology in our own
plants, and our ongoing interest to continue making technical advances to
make our plants, and theirs, even more productive. We are very excited about
the potential of this agreement."
TEA, a wholly owned subsidiary of Thailand-based PTT Chemical (SET: PTTCH),
is a producer of ethanolamines, which have applications in industries ranging
from paint, pharmaceuticals, and cosmetics to cement, detergents, and fabric
Under the terms of the agreement Huntsman will provide more than just a license
for its technology. Services begin with plant inception and continue through
plant design and first day operations by providing on-site start-up assistance
to help ensure success. As a result, the total value to the licensee goes
well beyond the patented technology, and includes access to Huntsman's unpatented
process know-how and expertise.
"We understand a licensee's need for consistent and efficient chemical
production because we work our technology on a daily basis. We're not an outsider
looking in, we're a significant player in the market," said Stanutz.
"We truly understand the market dynamics of end products and the need
for profitable returns."
Huntsman is a global manufacturer and marketer of differentiated and commodity
chemicals. Its operating companies manufacture products for a variety of global
industries including chemicals, plastics, automotive, aviation, textiles,
footwear, paints and coatings, construction, technology, agriculture, health
care, detergent, personal care, furniture, appliances and packaging. Originally
known for pioneering innovations in packaging, and later, rapid and integrated
growth in petrochemicals, Huntsman today has 15,000 employees and 78 operations
in 24 countries. The Company had 2005 revenues of $13 billion.
Statements in this release that are not historical are forward-looking statements.
These statements are based on management's current beliefs and expectations.
The forward-looking statements in this release are subject to uncertainty
and changes in circumstances and involve risks and uncertainties that may
affect the company's operations, markets, products, services, prices and other
factors as discussed in the Huntsman companies' filings with the Securities
and Exchange Commission. Significant risks and uncertainties may relate to,
but are not limited to, financial, economic, competitive, environmental, political,
legal, regulatory and technological factors. Accordingly, there can be no
assurance that the company's expectations will be realized. The company assumes
no obligation to provide revisions to any forward-looking statements should
circumstances change, except as otherwise required by securities and other
Source: Huntsman Corporation