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Huntsman opens formulations manufacturing facility in Vietnam

By PR Newswire   August 23, 2018 | 02:08 am PT
Huntsman opens formulations manufacturing facility in Vietnam
Huntmans Corporation announced on August 22, 2018 that it has opened a multi-purpose facility near Ho Chi Minh City, Vietnam. Photo courtesy of Huntmans Corporation
Global chemicals manufacturer Huntsman Corporation announced Tuesday it has opened a multi-purpose facility near Ho Chi Minh City, Vietnam. 

The site, located at the Amata Vietnam Industrial Park, is a greenfield investment, will house Huntsman's Polyurethanes and Advanced Materials businesses, and comprises manufacturing; research and development capabilities; a technical service center; warehouse and distribution space and a commercial office, it said in a statement.

Commenting on the new facility, 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 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."

Scott Wright, President of Huntsman's Advanced Materials business added: "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."

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.

Huntsman Corporation last year had a revenue of more than $8 billion. It has facilities in 30 countries.

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