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Huntsman To Make Advanced Materials A Separate Business Unit

Published on 2004-01-28. Author : SpecialChem

Peter R. Huntsman, President and CEO of the Huntsman companies, announced today that Huntsman Advanced Materials (formerly Vantico) will become a separate business unit of the Huntsman companies.

Immediately after acquiring Vantico in July 2003, Huntsman renamed the business Huntsman Advanced Materials and began managing it as part of Huntsman Polyurethanes.

"Patrick Thomas, who runs our Polyurethanes business, has done a superb job helping Advanced Materials grow and become an integral part of our companies," said Mr. Huntsman. "Under Patrick's guidance Huntsman Advanced Materials now has matured in our organization to the point that it needs to be an independent Huntsman business."

Mr. Huntsman also announced the appointment of Paul Hulme to the position of President of Huntsman Advanced Materials.

"Paul has been managing the business as a senior vice president since we acquired it in July and has proven to be a decisive and respected leader," said Mr. Huntsman. "We are delighted that we have a person of his ability and experience to take full profit and loss responsibility for this important part of our business portfolio."

Huntsman Advanced Materials is a leading global manufacturer and marketer of advanced of epoxy resins, adhesives, coating systems, electrical insulating materials, optronics, pre-production solutions and structural composites. Its end use markets include the aerospace, automotive, electronics, electrical generation, recreation and appliance industries.

The combined Huntsman companies, including Huntsman Advanced Materials, constitute the world's largest privately held chemical company. The operating companies manufacture basic products for a variety of global industries including chemicals, plastics, aerospace, automotive, aviation, footwear, paints and coatings, construction, electronics, technology, agriculture, health care, textiles, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging, and later, rapid and integrated growth in petrochemicals, Huntsman-held companies today have more than 15,000 associates, operations in 30 countries and annual revenues of approximately $9 billion.

Source: Huntsman


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