Huntsman To Restructure Textile Effects Business
Salt Lake City-based Huntsman Corp. has announced that it will spend nearly $150 million over the
next three years to restructure its Textile Effects business, which it acquired from
Switzerland-based Ciba Specialty Chemicals Inc. earlier this year. The restructuring will entail
consolidation of the business’s Americas and European operations and expansion of Asian operations.
“In the Americas and in Europe, our focus will be to expand our technical textiles and high-end apparel and home textile businesses and reach a world-class cost position globally in all functions, including production, sales and distribution,” said Paul Hulme, president, Materials & Effects division.
The program also will include the establishment of a technical center and two formulation and distribution centers in China.
Up to 650 positions will be eliminated globally, while 300 will be created.