Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Huntsman Cuts TiO2 Jobs

by Marc S. Reisch
December 8, 2014 | A version of this story appeared in Volume 92, Issue 49

Huntsman plans to cut 900 jobs from its recently enlarged pigments and additives division as part of a restructuring effort meant to save $130 million annually. Just two months ago, Huntsman completed the $1 billion purchase of Rockwood Holdings’ titanium dioxide and additives business and combined it with its own unit. Now Huntsman says it may reduce TiO2 capacity as it goes forward with a plan, announced when it arranged the Rockwood purchase a year ago, to ultimately carve out and sell the combined division in an initial public offering. The combination with Rockwood makes Huntsman the second-largest global producer of TiO2. The restructuring effort is intended to improve the division’s competitiveness and attractiveness in advance of a public offering. Last year, the number one TiO2 maker, DuPont, said it would spin off its performance chemicals business, including TiO2, to shareholders sometime in 2015.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.