Huntsman Finishes Strategic Review of European Maleic Anhydride

After completing a thorough evaluation of its European Maleic Anhydride business, Huntsman Corporation has made the decision to shut down its Maleic Anhydride plant in Moers, Germany. The closure process for the Moers facility is expected to finish by the end of the current quarter. The European Maleic Anhydride segment experienced an adjusted EBITDA loss of around $10 million in 2024. Moving forward, Huntsman will cater to customers in Europe from its North American sites in Pensacola, Florida, and Geismar, Louisiana. With the shutdown of the Moers site, Huntsman anticipates booking a one-time non-cash asset impairment charge of about $75 million during the second quarter of 2025.

Huntsman Corporation is a publicly listed global producer and salesperson of specialized and distinct chemicals, reporting approximately $6 billion in revenues in 2024. The company’s range of chemical products, numbering in the thousands, is distributed worldwide to manufacturers across a broad spectrum of consumer and industrial sectors. Operating across more than 60 production, research and development, and operational facilities in approximately 25 countries, Huntsman employs around 6,300 individuals within its ongoing operations.

When it comes to looking ahead, certain details outlined in this announcement qualify as forward-looking statements under applicable regulations. These statements are based on the existing viewpoints and expectations of the management team. The forward-looking statements included in this communication are subject to variability and changes in situations and involve risks and uncertainties that could impact the company’s operations, markets, products, services, pricing, and other factors. These risks and uncertainties encompass a wide range, including volatile global economic conditions, unpredictable and changeable product markets, disruptions in manufacturing facility operations, planned or ongoing reorganizations or restructurings of Huntsman’s operations, including potential setbacks or negative developments affecting the execution of cost reduction initiatives, transactions’ timeliness, and the enhancement of manufacturing optimization in Huntsman’s various business sectors to achieve predicted cost savings, alongside other factors of financial, economic, competitive, environmental, political, legal, regulatory, and technological natures. In case of any alterations in situations, the company is under no obligation to provide updates or revisions to the forward-looking statements, except as mandated by relevant laws and regulations.