Issue Date: December 8, 2008
Huntsman Revamps Textile Effects
Huntsman Corp. will shake up its textile effects business to concentrate on growth markets in Asia and save $60 million annually by 2011. The reorganization includes cutting 150 mostly manufacturing positions in Langweid, Germany; eliminating another 25 jobs with the closure of a lab in France; and reducing employment by double digits at the firm's manufacturing site in Mexico. Of 3,900 people now employed in the textile effects unit, 470 will lose their jobs. Huntsman will also move the unit's global headquarters from Basel, Switzerland, to an Asian city, possibly Singapore or Hong Kong, the company says.
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