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Huntsman to increase prices and impose energy surcharge

31
May '08
Huntsman Corporation announced that, in response to sharp and sustained increases in its costs for energy, commodity and intermediate feedstocks, and transportation, it will raise prices for all products, some by as much as 25%, and also impose an energy surcharge across a wide range of products.

The amount of each price increase and energy surcharge will vary by product, in accordance with costs attributed to each product.

Peter Huntsman, President and CEO, stated, “We hope we have seen the worst of the energy and commodity price increases, but the impact of large scale speculation by traders on the price of energy, in addition to the increased costs we are absorbing from our raw material suppliers and service providers, cannot be underestimated.

Having implemented aggressive internal steps to manage these costs, we are now reviewing all Huntsman products and are announcing specific price increases, as well as an energy surcharge to be applied to each product where warranted.”

Each price increase and any necessary surcharge will be effective immediately or as soon as applicable contracts allow.

Huntsman Corporation


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