Challenging market and currency effects hit Hunt - sportstextiles: Lea SportsTextiles

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Challenging market and currency effects hit Huntsman Textile Effects

29/10/2015
Huntsman Textile Effects sales in the third financial quarter were affected by lower sales volumes and lower selling prices, said its parent, US-based Huntsman Corp.

Revenues in the three months to the end of September reached $196 million compared with $221 in the year-ago period, a decline of 11%.

Average selling prices decreased in response to lower raw material costs and the foreign currency exchange impact of a stronger US dollar against major international currencies.  Volumes decreased primarily due “challenging market conditions”.

Of the group’s performance, CEO Peter Huntsman said: "We are aggressively focused on those elements within our business that we can control and are fully committed to an improvement in our free cash flow generation.  We reduced our planned capital expenditures by a combined total of $150 million over the next two years and are determined to deliver more than $100 million of future synergy and restructuring savings. “

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