Huntsman to restructure pigments business with loss of 900 jobs
02/12/2014
The US group is also evaluating titanium dioxide (TiO2) capacity reduction options. It bought Rockwood’s pigments business in September 2013.
CEO Peter Huntsman said: “With the inclusion of the recently acquired Rockwood pigments and additives businesses we have the broadest product offering of specialised pigments in the industry. This restructuring will improve the competitiveness of our global pigments and additives business and allow us to compete more aggressively.
“This is not the first time we’ve made significant efforts to restructure. Recently, we successfully completed major restructuring in our Advanced Materials and Textile Effects divisions, the annual benefits of which were approximately $150 million.
“We are also taking steps that will lead to a successful future initial public offering of our Pigments and Additives division."
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