Huntsman Corp. recently announced that it has successfully completed the scheduled maintenance of its olefins and ethylene oxide facilities in Port Neches, Texas. This type of maintenance reportedly occurs once every four years. The facilities are now operating at normal rates.
The maintenance outage took longer than originally anticipated, reportedly as a result of startup issues and adverse weather conditions. The impact of the prolonged startup on first quarter 2013 EBITDA is $10 million more than the company’s earlier guidance. The total estimated impact on first quarter 2013 EBITDA is approximately $55 million.
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