Huntsman to Rebuild Its Istanbul Facility

Huntsman's polyurethane facility to be rebuilt in Istanbul will meet the highest engineering and quality standards. The facility, which will also serve as a growth platform for Huntsman Building Solutions (HBS) in Turkey and the Middle East, is targeted for completion in the fourth quarter of 2021. Once operational, the facility will enable the recycling of hundreds of millions of PET bottles annually, increasing the company's contribution to the circular economy and making this facility a sustainable investment. Huntsman Corporation (NYSE: HUN) announced today that it plans to rebuild its polyurethane facility in Istanbul. According to the statement, the first-class facility and technical center to be constructed by Huntsman on the same site will have the capabilities to meet the highest standards in EHS (Environment, Health and Safety), engineering and quality. Construction of the new facility is targeted for completion in the fourth quarter of 2021. The new, first-class facility to be built will have production capacity for polyester polyols, blends, MDI prepolymers, spray foam and polyurethane. Using Huntsman's proprietary TEROL® technology, the facility will enable the recycling of hundreds of millions of PET bottles annually, increasing the company's contribution to the circular economy and making this facility a sustainable investment. The facility will also serve as a growth platform for Huntsman Building Solutions (HBS) in Turkey and the Middle East. HBS is one of the world's leading spray polyurethane foam suppliers and ranks as the world's fifth largest insulation manufacturer.

Steen Weien Hansen, Vice President responsible for Huntsman Polyurethanes Europe, Africa, Middle East and India region, made the following statement on the matter: "It will be ten years since Huntsman acquired EMA in 2021.

The rebuilding of the facility will enable us to achieve a better restructuring than before and to continue our teamwork at the center of the polyurethane industry in Turkey. Turkey is Europe's second largest MDI-based polyurethane market. Turkey also offers access to numerous industrial and consumer market segments alongside high growth rates thanks to its attractive demographics and broad manufacturing sector." Gülüm Selen Kabil, Huntsman Polyurethanes Turkey and Middle East Regional Director, noted: "While construction of our new facility continues, I would like to thank our customers for their understanding and the Huntsman EMA team for their intensive work. Throughout the past year, our colleagues worked diligently to supply our products across the region using various supply solutions. With the new facility coming online next year, we will conduct our operations much more strongly than in the past." TEROL® is a registered trademark of Huntsman or its affiliates in one or more countries, although not all countries.