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Business

Huntsman spin-off to include textiles

by Marc S. Reisch
August 1, 2016 | APPEARED IN VOLUME 94, ISSUE 31

Huntsman Corp. plans to include its textile effects business as part of the spin-off to shareholders of its titanium dioxide operations. Speaking to analysts during a review of Huntsman’s second-quarter earnings, CEO Peter Huntsman said the textile dyes and chemicals operation, which the firm bought from Ciba Specialty Chemicals in 2006, would “stabilize the earning cyclicality of TiO2” in the new entity. The combined operation, which had $2.9 billion in sales over the past 12 months—about 25% from textile effects—could be ready to be spun off at the end of this year or early in 2017, Huntsman said.

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