Huntsman to Utilize Polinvents Existing Adducts and Develop Amine-epoxy Adducts for Industrialization

Everberg, Belgium -- The Polyurethanes division of Huntsman (HUN:NYSE) has signed a cooperation agreement with Budapest-based Polinvent - a research-intensive enterprise that has recently developed and patented a range of novel amine-epoxy adducts. Together, the two companies will explore the benefits that can be derived from incorporating Polinvent adducts into polyurethane and polyurea coatings as well as other adhesive and elastomer products.

Under the terms of the cooperation - which covers research, development, manufacture, trade and intellectual property rights - Huntsman will have exclusive access to Polinvent adducts for an initial three year period. During this time, the two companies will seek out new application opportunities and create new adducts for industrialization.

Ian Rimmer, Commercial Coatings Manager Europe, at Huntsman Polyurethanes, said: "Our cooperation with Polinvent is a mutually beneficial arrangement. Polinvent was looking for a global trade partner that could make use of its adduct technology, while we are always on the look out for sustainable, innovative solutions that can help us differentiate our products and improve our competitiveness. We look forward to utilizing Polinvents existing adducts across our global manufacturing and supply network, and to developing new amine-epoxy adducts in cooperation with their highly skilled chemists. "

Dr Gabor Nagy, owner and CEO of Polinvent, said: "We have been a Huntsman customer for more than a decade and have always had a productive relationship, exchanging ideas and working closely with the business to join PDA Europe and the industry-wide Walk the Talk system. Partnering with Huntsman to roll out the use of our amine-epoxy products was the obvious choice. We are excited to formalize our cooperation and uncover new opportunities that will deliver benefits across the polyurethanes industry as well as key vertical market sectors."

About Huntsman

Huntsman is a global manufacturer and marketer of differentiated chemicals. Our operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2011 revenues of over $11 billion.

About Polinvent

Polinvent, established in 1990, is an innovative Hungarian, spin-off, small-to-mid sized enterprise. With close links to the Budapest University of Technology and Economics, the company focuses on the research, development and manufacture of original "niche" products for special purposes. Polinvent has 20 permanent employees that work alongside specialists employed on a contract basis for R&D projects. The companys main activities are the R&D and production of indirect (water glass isocyanate-based) polyurea products: 3P and 4P resins. Polinvent is also involved in the R&D of hot-sprayed polyurea components since 2007.