Huntsman completes scheduled maintenance at Poirt Neches, Texas Huntsman announced that it has successfully completed the scheduled maintenance of its olefins and ethylene oxide facilities in Port Neches, Texas. This type of heavy maintenance occurs once every four years. The facilities are now operating at normal rates. The maintenance outage took longer than originally anticipated as a result of start up issues and adverse weather conditions. The impact of the prolonged start up on first quarter 2013 EBITDA is $10M more than our earlier guidance. The total estimated impact on first quarter 2013 EBITDA is approximately $55M.
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Huntsman upgraded to Buy from Neutral at Goldman Goldman upgraded Huntsman based on the belief TiO2 has bottomed and offers cyclical leverage to a global economic recovery. Price target raised to $29 from $22.