The Woodlands, Texas — Huntsman saw sales in its polyurethanes business fall by 12% in Q3 2016 to $891m compared to $1.2bn in the 2015 quarter, as margins improved, according to the company.
Over the first nine months of 2016 sales in polyurethanes fell 7% to $2.7bn compared with $2.9bn in the first nine months of 2015, the firm added.
At the same time EBITDA (earnings before interest, tax, depreciation and amortisation) fell by 18% to $137m in the 2016 third quarter compared with $168m in the same period of 2015, the firm said.
Peter Huntsman, ceo, said: "The decrease in revenues in the polyurethanes division was due to lower prices and smaller volumes in its MTBE gasoline additive business compared to the third quarter of 2015.
"This was," Peter Huntsman added, “offset by higher MDI sales volumes in the Americas and Europe. MDI average selling prices decreased in response to lower raw material costs but margins in the MDI business were higher in the 2016 quarter compared with the third quarter of 2015.”