THE WOODLANDS, TX , Aug. 11, 2015 (Press Release) -Huntsman Corporation President and CEO Peter Huntsman made the following statement Tuesday regarding the Uerdingen incident last week. The remarks were made at the Jefferies Industrials Conference.
"We experienced an outage at our Uerdingen, Germany, facility last week.
The outage was caused by a vessel operated and maintained by a third-party.
All of the associates who were affected are out of the hospital and are doing well. As we look at the overall impact this will have on the business going forward, the operability of the facility was not impaired and as soon as the investigation by local authorities and the clean-up is done, the plant will be fully operating again. We would expect this to be starting in phases as the investigation is completed. The front end of the plant, also known as the black end of the plant, should be starting up in the latter part of this week. Gradually, over the course of the next two to three weeks, we expect the entire facility to be up and operating. I would expect the impact of this to be in the low single-digit millions of dollars. We are cooperating with the investigation and will be working with the third-party as far as any compensation that will be due to our company."