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
  • Active Agents

    Active Agents

    September 19, 2016
    On the surface, surfactants may seem staid, but the market, and the supplier activity driving it, is bubbling.

  • Jam On It!

    Jam On It!

    Melissa Meisel, Associate Editor||September 19, 2016
    Jamberry sees success in artsy nail accessories.

  • Expanding Erbaviva

    Expanding Erbaviva

    Christine Esposito, Associate Editor||September 13, 2016
    A farm-to-bottle organic brand celebrates its 20th anniversary with a new look, new products and plans to expand in the US.

  • Back to School

    Back to School

    Tom Branna, Editorial Director||September 1, 2016
    It may be September, but class was in session this summer during the Private Label Manufacturers Association’s Executive Educ

  • What

    What's In Your Formula?

    Christine Esposito, Associate Editor||September 1, 2016
    A look at the ingredients beauty brands are using to fuel their formulations and capture consumers’ attention.

  • A Sweet-Smelling Sanctuary

    A Sweet-Smelling Sanctuary

    Melissa Meisel, Associate Editor||September 1, 2016
    Home fragrance is enhanced by aromatic developments in delivery and components.