Huntsman may sell its textile dye unit

Huntsman is launching a strategic review of its textile effects business that could result in a sale. The business makes dyes for cotton, wool, nylon, and polyester textiles. It had 2020 sales of nearly $600 million, about 10% of the firm’s total. Huntsman bought the business from Ciba Specialty Chemicals in 2006. It had intended to include the business in the 2017 spin-off of its titanium dioxide division, Venator Materials, but elected to keep it. In a statement, Huntsman CEO Peter Huntsman says the business is profitable but that another firm might be “a better owner.”