POLYPROPYLENE MANUFACTURING FACILITY TO CLOSE
Huntsman Corporation announced that the company would close its polypropylene manufacturing facility at Woodbury, New Jersey, effective April 30, 1999. The excess capacity in the polypropylene industry has driven prices and margins "to unprecedented and unsustainable levels," said Peter R. Huntsman, President and Chief Operating Officer. "Irresponsible and untimely expansions unfortunately have become polypropylene industry hallmarks and there apparently is no end in sight," Mr. Huntsman commented. "Producers will add some 5.5 billion pounds of new capacity between now and 2001 alone. That's enough to meet nearly six years of strong demand growth."

For more information, contact Huntsman Corporation, 500 Huntsman Way, Salt Lake City, UT 84108, 801-532-5200, FAX 801-584-5781.