Huntsman opens new formulations manufacturing facility in Vietnam

Huntsman opens new formulations manufacturing facility in Vietnam

5:17 AM, 24th August 2018
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HO CHI MINH CITY, VIETNAM: Huntsman Corporation (HUN) has opened a multi-purpose facility at the Amata Vietnam Industrial Park, near Ho Chi Minh City, Vietnam. The site is a greenfield investment, will house Huntsman's Polyurethanes and Advanced Materials businesses, and comprises manufacturing; R&D capabilities; a technical service center; warehouse and distribution space and a commercial office.

In addition to this facility, Huntsman has a distribution warehouse located in the inland container depot at Long Binh - Dong Nai Province, and a site in Hanoi which offers technical service and comprises warehouse and distribution space and a commercial office.

"Vietnam is one of the largest and fastest growing countries in Asia Pacific. For Polyurethanes, we've seen double digit growth rates for a sustained period and fully expect this to continue.  At the new site, we'll manufacture formulated systems for the footwear and automotive markets; rigid insulation foam used in construction and cold chain applications; and simulated wood for the furniture market. These products will be consumed primarily in Vietnam, with the balance being exported to Cambodia. The facility will enable Huntsman to collaborate more effectively with Vietnamese customers and will also strengthen our strategy of globalizing downstream bolt-on acquisitions," added Tony Hankins, Huntsman's CEO Asia Pacific and President of the Polyurethanes business.

"This is the first manufacturing expansion investment outside China for our business in Asia Pacific and we see many opportunities in Vietnam to support large-scale infrastructure and construction projects in one of the fastest growing economies in the region. The new plant will give us the capability to efficiently supply customers across the ASEAN region with high quality electrical insulation, coatings and adhesive solutions that will ensure these ambitious projects are implemented successfully," added Scott Wright, President of Huntsman's Advanced Materials business.

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