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Business

Huntsman Swings Ax At Pigments Again

by Michael McCoy
March 9, 2015 | A version of this story appeared in Volume 93, Issue 10

Huntsman Corp. is taking further action to cut costs and jobs at the pigments and additives business it acquired last year from Rockwood Holdings. Previous steps focused on titanium dioxide operations. Now the firm is restructuring color pigments in an effort to save $20 million annually. Plants will be closed in Cartersville, Ga.; East St. Louis, Ill.; King of Prussia, Pa.; and Hainhausen, Germany. About 120 jobs will be lost. In total, Huntsman expects to save more than $175 million. It plans to spin the pigments business off as a separate company sometime next year.

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