Huntsman Completes European Maleic Anhydride Strategic Review

Rhea-AI Summary

Huntsman Corporation (NYSE: HUN) has announced the completion of its strategic review of the European Maleic Anhydride business, resulting in the closure of its facility in Moers, Germany by the end of the current quarter. The European operation recorded an adjusted EBITDA loss of approximately $10 million in 2024. Moving forward, European customers will be served from Huntsman's North American facilities in Pensacola, Florida and Geismar, Louisiana. The company expects to incur a one-time non-cash asset impairment charge of approximately $75 million during Q2 2025 due to the closure.

Positive

• Elimination of loss-making operations that generated -$10M EBITDA in 2024
• Strategic consolidation of operations to more efficient North American facilities
• Cost reduction through facility closure

Negative

• $75 million one-time non-cash asset impairment charge in Q2 2025
• Loss of local European production capacity
• Potential increased logistics costs serving European customers from North America

THE WOODLANDS, Texas, May 28, 2025 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) announced today that it has completed the strategic review of its European Maleic Anhydride business. As a result of this review, the Company will close its Maleic Anhydride facility located in Moers, Germany. The closure of the operations at Moers is expected to be complete by the end of the current quarter. In 2024, the European Maleic Anhydride business generated an adjusted EBITDA loss of approximately $10 million. Going forward, the Company intends to serve customers in the European region from its North American facilities located in Pensacola, Florida and Geismar, Louisiana. As a result of the closure of the Moers, Germany facility, Huntsman expects to incur a one-time non-cash asset impairment charge of approximately $75 million during the second quarter of 2025.     

About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2024 revenues of approximately $6 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 60 manufacturing, R&D and operations facilities in approximately 25 countries and employ approximately 6,300 associates within our continuing operations. For more information about Huntsman, please visit the company's website at www.huntsman.com.

Social Media:
Twitter: www.twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman

Forward-Looking Statements: 
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.

 

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SOURCE Huntsman Corporation

FAQ

Why is Huntsman (HUN) closing its Moers, Germany facility?

Huntsman is closing the facility following a strategic review of its European Maleic Anhydride business, which generated a $10 million EBITDA loss in 2024. The company will serve European customers from its North American facilities instead.

What is the financial impact of Huntsman's Moers facility closure?

The closure will result in a one-time non-cash asset impairment charge of approximately $75 million in Q2 2025, but will eliminate operations that generated a $10 million EBITDA loss in 2024.

How will Huntsman serve European customers after the Moers closure?

Huntsman will serve European customers from its North American facilities located in Pensacola, Florida and Geismar, Louisiana.

When will Huntsman complete the closure of its Moers, Germany facility?

The closure of the Moers facility operations is expected to be complete by the end of the current quarter in 2025.