Huntsman Corporation disclosed that Hurricane Ida caused no significant damage to its Geismar, Louisiana manufacturing facility.

The Geismar facility manufactures products for Huntsman's Polyurethanes and Performance Products divisions and all units were shutdown orderly and safely before Hurricane Ida made landfall. Site personnel are currently preparing the production units for restart. The precise timing of the restart of each unit is dependent on the availability of utilities and the ability of other third-party suppliers to restart their respective operations.

Currently, the company's best estimate is that production comes back online slowly this coming weekend with an increase in rates next week. Under this timeline, the company currently anticipates that the estimated impact from Hurricane Ida to third quarter 2021 EBITDA will be offset by strength in the broader Performance Products division and the European and Asian MDI markets.