Huntsman earnings up, boosted by higher MDI selling prices
19 August 2021MDI producer Huntsman recorded increased revenues in its Q2, 2021 largely due
to higher MDI average selling prices and higher sales volumes compared to the second quarter of 2020.
MDI average selling prices increased mostly in China and Europe. Sales volumes increased primarily due to stronger demand in relation to the ongoing recovery from the global economic slowdown, partially offset by the scheduled turnaround at the Rotterdam, Netherlands facility.
Group-wide, the global chemicals giant reported Q2 adjusted EBITDA of US$334m compared to adjusted EBITDA of US$54m in the prior year period.
“We are also making good progress on our organic capital investments, including our MDI splitter project in Geismar, Louisiana, which we now expect to start up in early 2022,” commented Peter R Huntsman, chairman, chief executive officer and president.
Across the composite wood industry, Huntsman’s I-BOND MDI resins are well known for the production of OSB, MDF, HDF and particleboard.
