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Chemical company Huntsman Corporation’s (HUN - Snapshot Report) Performance Products division has announced that it will expand its global polyetheramines (PEA) capacity by at least 15%. The company made this announcement as it is debottlenecking three of its PEA manufacturing plants globally.

Polyetheramines enhances the performance of epoxy systems which are used in industrial and decorative coatings and sports equipment. Huntsman is seeing meaningful mid-term growth in the sector, backed by continued emergence of new amine applications.

Huntsman has currently undertaken expansion activities in the Americas, Europe and Asia. The company expects projects at its Conroe, TX, Llanelli, Wales (UK) and Singapore sites to be fully operational by May 2014. Apart from increasing the capacity, Huntsman’s debottlenecking projects will enhance its manufacturing flexibility globally. The company however did not disclose the financial investment and capacity.

Huntsman with annual sales of more than $11 billion makes differentiated chemicals. The company makes products for an array of industries including chemicals, plastics, automotive, aviation, textiles, paints and coatings, construction, technology, agriculture, health care, appliances and packaging.

Huntsman’s Performance Products division is a global producer of intermediate and technologies that add value to customers worldwide. The division’s innovative solutions find application in the most diverse markets. The division’s family of industrial and consumer-oriented intermediates are primarily based on amines, surfactants, carbonates and maleic anhydride.

Huntsman currently carries a short-term (1 to 3 months) Zacks Rank #3 (Hold).

Some better-ranked stocks in the chemical industry include L'Air Liquide SA (AIQUY), Northern Technologies International Corp. and Ashland Inc. (ASH - Snapshot Report). While L'Air Liquide and Northern Technologies International hold a Zacks Rank #1 (Strong Buy), Ashland retains a Zacks Rank #2 (Buy).

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