Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of P.J. Juvekar from Citigroup; please proceed.
P.J. Juvekar - Citigroup
Yes, good morning. Peter when I look at your results and compare them to your competitors like Dow, your volumes held up much better but pricing was weaker. Can you talk about the specifics of your portfolio that leads to better volumes?
Peter Huntsman
P.J. thank you very much for the question. I think that as we look at our volumes, I’m not sure what I can say about Dow’s pricing and their products and so forth, they do have different products and different markets they compete in.
I believe that where we compete head to head with Dow around the world on a product-by-product basis, I do believe, I can’t comment on Dow’s pricing policy. I would say that I believe that we are very aggressive with our pricing that is aggressively holding up our pricing. I consider us to be a leader in the market as far as being able to sell value and sell quality and not just price.
I would say that as you look at the statistics that I gave at the end of my prepared remarks, talking about nearly a quarter of our business being in the Asia-Pacific area, I would consider that area to be between Singapore, China and India, being nearly 25% of our overall sales.
I believe that this is higher than most of our competitors, European and U.S. competitors, and we’ve taken some bold steps to expand our business in these areas and I believe that as you look at our tonnage, I hope that the market doesn’t get too bogged down looking at revenues in the chemical industry when you see raw materials drop as much as they dropped.
I don’t think that just tracking revenues is important as tracking the tonnage that we are selling as an industry, and as I look at the tonnage I think that we continue to do very well particularly in Asia, and we continue to see a recovery, but I can’t comment on a product-by-product, price-by-price between us and Dow. I would say that this is a much stronger portfolio and company. I’m a bit biased aren’t I? I’m just kidding.
P.J. Juvekar - Citigroup
Okay, that’s helpful. My second question is on Tronox. Tronox went bankrupt in this recession. So I mean, what’s so attractive about Tronox’s portfolio or is it just that you can buy these assets cheap and you get some synergies? What’s so attractive about Tronox acquisition?
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