Breaking News

Huntsman To Cut Workforce, Shutter Pigments Plant

November 30, -0001

Huntsman Corporation has announced a company-wide initiative to reduce costs across its divisions and functions, including further reduction in the number of full-time employees. Including steps taken during the fourth quarter of 2008, Huntsman will reduce its full-time employment by approximately 1175 positions by year’s end or approximately 9% of its employees. Full-time contractors will be reduced by an additional 490 positions. Together, these reductions will result in operating cost savings to the company of approximately $150 million.

Huntsman also announced that it will shutter its titanium dioxide plant in Grimsby, UK. The plant, which is the pigment division’s oldest and least efficient manufacturing facility, has an annual production capacity of 40,000 tons. Production will cease during the first quarter of 2009. Annual operating cost savings resulting from the plant’s closure would be approximately $28 million, according to Huntsman.

More info: www.huntsman.com
blog comments powered by Disqus
  • Patent Update

    Patent Update

    July 28, 2016
    Three-layered hair product from Lauder, palm oil extracts for wrinkle treatment and more in recently awarded patents.

  • Pushin’ the Cushion

    Pushin’ the Cushion

    Christine Esposito, Associate Editor||July 26, 2016
    AmorePacific, the creator of the cushion compact, continues to improve its unique product.

  • Cozy Makes a Splash

    Cozy Makes a Splash

    Melissa Meisel, Associate Editor||July 25, 2016
    Expands reach in CVS and introduces new collection.

  • Sustainability is Omnipresent

    Sustainability is Omnipresent

    Christine Esposito , Associate Editor||July 1, 2016
    Industry stakeholders convene in New York City for Organic Monitor’s annual event

  • Perceived Perfection

    Perceived Perfection

    Christine Esposito, Associate Editor||July 1, 2016
    From primers to pressed powders, facial cosmetics help create the illusion of a flawless complexion.

  • Preserve & Serve

    Preserve & Serve

    Melissa Meisel , Associate Editor||July 1, 2016
    Suppliers with innovative preservatives provide staying power for formulations.