Huntsman and Yantai Wanhua Polyurethanes Sign License Agreement

June 3, 2011
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Huntsman Corp. recently announced it has signed a license agreement with Chinese chemicals manufacturer Yantai Wanhua Polyurethanes Co. Ltd. for the production of propylene oxide (PO) and methyl tertiary butyl ether (MTBE), a co-product of PO. Yantai Wanhua, a leading Asian polyurethanes producer, plans to leverage the license to build a world-scale PO/MTBE plant at its facility in Yantai, Shandong province, with construction expected to begin later this year and production due in late 2013.

“Huntsman is pleased with the negotiations and the relationship that has been built between our company and Yantai Wanhua, one of China’s finest manufacturing companies,” Peter R. Huntsman, president and CEO of Huntsman Corp. “We anticipate this relationship will extend into other business opportunities that will be beneficial for both companies. We look forward to working with Yantai Wanhua in building this PO/ MTBE facility.”

“This cooperation with Huntsman is a win-win solution for both parties and for the polyurethane industry,” said Ding Jiansheng, chairman of Yantai Wanhua Polyurethanes Co. Ltd. “Huntsman is one of the leading PO technology holders and definitely the right partner to work with to realize our vision: to be a first-class, green chemical producer. With China’s huge chemical market potential and Wanhua’s local expertise, the PO/MTBE license will foster a true success in our Wanhua Yantai portside integrated chemical complex.”

For more information, visit www.ytpu.com or www.huntsman.com.

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