Huntsman sees big improvement in 1Q. (Breaking News: Roundup).(first quarter earnings)(Brief Article)

Chemical Market Reporter, April, 2002

Huntsman Corp. says first quarter earnings are showing significant improvement as demand for its products picks up almost across the board and cost-cutting initiatives kick in. The company reports operating EBITDA (cash flow) of $50.2 million in the first quarter versus a loss of $ 14.9 million in the year-ago period.

First quarter EBITDA for Huntsman and all its affiliated companies was $132 million. "We are very encouraged by Huntsman Corp.'s recent performance," says president and CEO Peter R. Huntsman. "We have had to fight our way through some of the worst economic conditions in the history of the chemical industry, including eliminating 800 positions and making permanent reductions of more than $130 million in our annual fixed costs." This is the first...

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