Huntsman claims that Asian MDI production capacity is tight
Peter Huntsman, President and Chief Executive Officer of Huntsman Corporation, said that the company is proceeding to apply for environmental and production licenses from the Chinese government to open a second 240,000-ton MDI plant in China to ease the existing Shanghai The tight production capacity of the joint venture MDI plant.
“We hope to pass some key decision points, perhaps mid-year,†he added after a conference call with analysts on February 17th, and the group reported its 2010 results.
Mr. Huntsman also pointed out that it had restarted its 150,000 tons of MDI idle capacity in Gaysma, Louisiana, in the fourth quarter of 2010, and will depend on market development to sell to different regions.
He commented that “Our production capacity in Asia is completely tight,†so it is very likely that most of the MDI production restarted in North America will be sold to Asia until we can expand production capacity locally.
Therefore, "The tight supply of MDI in Asia may last two to three years..." he stressed. After the company obtains a license in China, it will take two to three years to build and build a new factory.
He also pointed out that a competitor in the industry will launch a MDI project in China within the next two years, and this project may be the only capacity increase of the MDI industry in the next two to three years.
“We hope to pass some key decision points, perhaps mid-year,†he added after a conference call with analysts on February 17th, and the group reported its 2010 results.
Mr. Huntsman also pointed out that it had restarted its 150,000 tons of MDI idle capacity in Gaysma, Louisiana, in the fourth quarter of 2010, and will depend on market development to sell to different regions.
He commented that “Our production capacity in Asia is completely tight,†so it is very likely that most of the MDI production restarted in North America will be sold to Asia until we can expand production capacity locally.
Therefore, "The tight supply of MDI in Asia may last two to three years..." he stressed. After the company obtains a license in China, it will take two to three years to build and build a new factory.
He also pointed out that a competitor in the industry will launch a MDI project in China within the next two years, and this project may be the only capacity increase of the MDI industry in the next two to three years.
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