We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Huntsman (HUN) Forms Joint Venture With KPX Chemical in Korea
Read MoreHide Full Article
Huntsman Corporation (HUN - Free Report) recently announced the establishment of a joint venture— KPX Huntsman Polyurethanes Automotive Co. Ltd. — KPX Chemical in Korea. The joint venture will create and offer innovative polyurethane system solutions to Korean automakers from a specialty polyurethanes production site at KPX Chemical's Ulsan plant. The operations are anticipated to begin by the end of this month.
Korea is one of Huntsman's main markets in Asia. Given the rapid changes in the country’s automotive industry, it provides immense scope for high performance and light weight polyurethane system solutions. The new joint venture will ramp up growth in this sector by offering sustainable innovations and a high level of technical service support to its customers.
KPX Chemical will leverage its 47-years' experience in polyol technology and knowledge by combining it with Huntsman's expertise to develop high performance, differentiated, MDI-based automotive solutions for vehicle producers and its fully integrated global supply chain. The joint venture will provide customized polyurethane systems solutions to meet local automotive customers' needs for better comfort, superior acoustics and light-weighting.
The company noted that by creating value for its customers, the joint venture will enable downstream polyurethanes businesses to develop in a more sustainable way, both economically and environmentally.
Shares of Huntsman have increased 30.2% in the past year compared with a 21.6% rise of the industry.
Image Source: Zacks Investment Research
The company, in its last earnings call, stated that it is focused on delivering a strong EBITDA performance and improved free cash flow in the second half of 2021. It is striving to maintain a strong balance sheet and a steady capital deployment.
It is also optimistic about its progress in organic capital investments, including the MDI splitter project in Geismar that is expected to commence in early 2022.
Huntsman currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , The Chemours Company (CC - Free Report) and Methanex Corporation (MEOH - Free Report) .
Nucor has a projected earnings growth rate of around 534.4% for the current year. The company’s shares have surged 113.9% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected earnings growth rate of around 86.4% for the current year. The company’s shares have gained 35.7% in the past year. It currently carries a Zacks Rank #2 (Buy).
Methanex has an expected earnings growth rate of around 409.3% for the current fiscal. The company’s shares have surged 94.1% in the past year. It currently flaunts a Zacks Rank #1.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Huntsman (HUN) Forms Joint Venture With KPX Chemical in Korea
Huntsman Corporation (HUN - Free Report) recently announced the establishment of a joint venture— KPX Huntsman Polyurethanes Automotive Co. Ltd. — KPX Chemical in Korea. The joint venture will create and offer innovative polyurethane system solutions to Korean automakers from a specialty polyurethanes production site at KPX Chemical's Ulsan plant. The operations are anticipated to begin by the end of this month.
Korea is one of Huntsman's main markets in Asia. Given the rapid changes in the country’s automotive industry, it provides immense scope for high performance and light weight polyurethane system solutions. The new joint venture will ramp up growth in this sector by offering sustainable innovations and a high level of technical service support to its customers.
KPX Chemical will leverage its 47-years' experience in polyol technology and knowledge by combining it with Huntsman's expertise to develop high performance, differentiated, MDI-based automotive solutions for vehicle producers and its fully integrated global supply chain. The joint venture will provide customized polyurethane systems solutions to meet local automotive customers' needs for better comfort, superior acoustics and light-weighting.
The company noted that by creating value for its customers, the joint venture will enable downstream polyurethanes businesses to develop in a more sustainable way, both economically and environmentally.
Shares of Huntsman have increased 30.2% in the past year compared with a 21.6% rise of the industry.
The company, in its last earnings call, stated that it is focused on delivering a strong EBITDA performance and improved free cash flow in the second half of 2021. It is striving to maintain a strong balance sheet and a steady capital deployment.
It is also optimistic about its progress in organic capital investments, including the MDI splitter project in Geismar that is expected to commence in early 2022.
Huntsman Corporation Price and Consensus
Huntsman Corporation price-consensus-chart | Huntsman Corporation Quote
Zacks Rank & Key Picks
Huntsman currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , The Chemours Company (CC - Free Report) and Methanex Corporation (MEOH - Free Report) .
Nucor has a projected earnings growth rate of around 534.4% for the current year. The company’s shares have surged 113.9% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected earnings growth rate of around 86.4% for the current year. The company’s shares have gained 35.7% in the past year. It currently carries a Zacks Rank #2 (Buy).
Methanex has an expected earnings growth rate of around 409.3% for the current fiscal. The company’s shares have surged 94.1% in the past year. It currently flaunts a Zacks Rank #1.