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Huntsman recovers from disaster, sees positive growth in Q1

Huntsman is seeing positive trends in the first quarter of 2017. Based on current market conditions, the firm expects first quarter 2017 adjusted EBITDA to exceed adjusted EBITDA during the same quarter in 2016.

It expects the first quarter EBITDA impact to be less than previously anticipated. There was a fire at its titanium dioxide facility in Finland with no injuries. The site has 1,30,000 metric tons of capacity, representing 15 per cent of Huntsman’s titanium dioxide capacity and two per cent of global demand. The plant will resume full operation by 2018 end.

Huntsman remains focused on delivering more than $350 million of free cash flow in 2017 and growing its downstream businesses such as differentiated MDI polyurethanes. It is working toward the separation of its pigments and additives business and is targeting the end of the second quarter of this year for this to take place.

Huntsman Corporation makes differentiated chemicals. Its chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. It operates more than 100 manufacturing and R&D facilities in 30 countries. The company has five business divisions.