Huntsman Ends Discussions on Sale of Company

Posted: February 15, 2006

After careful review of the proposals received, the board of directors and its special committee has concluded that none of the proposals were in the best interests of the shareholders.  

 

Jon M. Huntsman, founder and Huntsman chairman, said: “While the last proposals were above the price of our IPO last year I believe they were not adequate, particularly in light of the risks, uncertainties and extended timing of the proposed transactions.”

 

President and CEO Peter Huntsman commented, “Like other companies located on the Gulf Coast, our fourth quarter 2005 results were negatively impacted by hurricanes Rita and Katrina and the unprecedented spikes in energy prices leading up to and during that period. The company estimates that hurricanes Rita and Katrina had a direct negative impact of approximately $140 million on fourth quarter EBITDA or approximately $0.60 per share.”