Huntsman’s textile restructuring pays dividends
31/07/2013
It said higher sales volumes and higher average selling prices, as well as lower manufacturing, general and administrative costs, boosted the arm to $216 million compared with $195 million last year.
Sales volumes increased primarily due to increased market share in key markets and selling prices increased in response to higher raw material costs, it added.
CEO Peter Huntsman said: "With the exception of our TiO2 Pigments division, all of our divisions improved year over year and compared to the prior quarter's performance and we are starting to see the benefits of our restructuring efforts within our Textile Effects and Advanced Materials divisions.”
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