The Woodlands, Texas – Huntsman has said that adjusted EBITDA in its polyurethanes business will be at least 20% better than its third quarter performance.
The company said in a trading statement that this was because of stronger than expected overall demand as well as higher MDI component margins, most notably in Asia.'
Overall, Huntsman said it expects adjusted EBITDA in the fourth quarter to be 20-25% better than the final quarter of 2019.
It added that the sale of its remaining stake in Venator Materials, a cyclical business focused on titanium dioxide, was on track, and that it plans to pay the outstanding EUR445m 5.125% bond that falls due next year at face value. It will do this from its available liquidity. The redemption on 15 January will reduce the company's interest bill by about $25m/year.