Huntsman Netherlands MDI operations should recover in 2-3 weeks

30 April 2013 23:50  [Source: ICIS news]

HOUSTON (ICIS)--Huntsman expects its operations at its Rozenburg site in the Netherlands to return to normal in the next two to three weeks, after the company declared force majeure on pure methyl di-p-phenylene isocyanate (MDI) and MDI-based variants, the company's CEO said on Tuesday.

Huntsman's declaration was caused by a lack of raw materials and offtake from its MDI facility, said Peter Huntsman, company CEO.

Huntsman made his comments during an earnings conference call.

The MDI operations in Rozenburg, with a nameplate capacity of 400,000 tonnes/year, have been down for planned maintenance since mid-March.

The turnaround was originally expected to last for around one month. However, since then, the restart of the MDI operations has been delayed on a lack of feedstock supply.

As a result of the disruption, Huntsman expects to take a $15m (€11m) hit in Q2 earnings before interest, tax, depreciation and amortisation (EBITDA).

Additional reporting by Heidi Finch

($1 = €0.76)

By: Al Greenwood
+1 713 525 2645

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