Huntsman Corporation (NYSE: HUN) recently announced that it has opened a multi-purpose facility at Amata Vietnam Industrial Park, Dong Nai province.
Huntsman Corporation (NYSE: HUN) recently announced that it has opened a multi-purpose facility at Amata Vietnam Industrial Park, Dong Nai province.
The green field investment will house Huntsman’s Polyurethanes and Advanced Materials businesses and will comprise of a manufacturing area, R&D capabilities, a technical service centre, a warehouse, as well as a distribution space and a commercial office.
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Huntsman’s CEO Asia-Pacific and president of the Polyurethanes business Tony Hankins said, “Vietnam is one of the largest and fastest growing countries in the Asia-Pacific. For Polyurethanes, we have been seeing double digit growth rates for a sustained period and fully expect this to continue."
"At the new site, we will manufacture formulated systems for footwear, insulation foam used in construction and cold chain applications, simulated wood for furniture, and automotive applications.
These products will be sold in Vietnam, with the balance being exported to Cambodia. The facility will enable Huntsman to collaborate more effectively with its customers based in Vietnam and will also strengthen our strategy of globalising our bolt-on downstream acquisitions,” Hankins added.
Scott Wright, president of Huntsman’s Advanced Materials business, added, “This is the first manufacturing expansion investment outside China for our business in the 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 projects are implemented successfully."
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 services and comprises of warehouse and distribution space and a commercial office.
Huntsman is a publicly-traded global manufacturer and marketer of differentiated and specialty chemicals with 2017 revenues of more than $8 billion.
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 75 manufacturing, R&D, and operations facilities in approximately 30 countries and employs approximately 10,000 associates within four distinct business divisions.
