Huntsman’s Texas cracker running normally after Enterprise fire

17 February 2011 16:16  [Source: ICIS news]

TORONTO (ICIS)--Huntsman’s 193,000 tonne/year cracker at Port Neches, Texas, saw decreased pressure in raw material lines when a supplier suffered a fire last week but the plant is running normally now, officials said on Thursday.

“We did suffer a slowdown for about a day-and-a-half period,” CEO Peter Huntsman said during his company’s 2010 fourth-quarter analysts’ call.

Last week Enterprise Products, a feedstock supplier to the chemical industry, had a fire at a storage facility in Mont Belvieu, Texas, prompting analysts to predict a significant impact on chemical producers’ 2011 first-quarter results.

Together with plant outages during freezing weather on the US Gulf coast earlier this month, Huntsman expects a total financial impact of up to $7.0m (€5.2m) in the current first quarter.

The CEO added that the affected facilities were currently up and running again and Huntsman did not suffer any long-term or permanent damage.

Earlier on Thursday, Huntsman reported that its adjusted net income for the 2010 fourth quarter fell 26% to $58m from $78m for the same period in 2009, but underlying earnings and sales had soared.

($1 = €0.74)

For more on Huntsman and other producers visit ICIS company intelligence
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By: Stefan Baumgarten
+1 713 525 2653



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