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Huntsman Provides Update on Impact of Hurricane Ida on Its Business

 Last Update: 2023-01-12
 Source: Internet
 Author: User

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On September 7, 2021, Huntsman disclosed that Hurricane Ida caused no significant damage to its production facility in Geismar, Louisiana
.
The Geismar plant, which makes products for Huntsman's Polyurethanes and Performance Products division, was shut down in an orderly and safe manner before Hurricane Ida made landfall
.
On-site personnel are currently preparing to restart the production unit
.
The exact time each unit restarts depends on utility availability and the ability of other third-party providers to restart their respective businesses
.

For now, the company's best estimate is for production to slowly resume this weekend, with a higher operating rate next week
.
Based on this timeline, the company now expects that the impact of Hurricane Ida on EBITDA in the third quarter of 2021 will be offset by strength in the broader Performance Products segment and MDI markets in Europe and Asia
.

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