24 March 2002 23:25 [Source: ICIS news]
SAN ANTONIO, Texas (CNI)--Huntsman Corporation's new chief operating officer told CNI here Sunday he believes the industry has much reason for optimism and expressed encouragement with the rebound this year in several Huntsman businesses.
Don Stanutz offered his views on the industry outlook during a break in meetings at the 27th annual International Petrochemicals Conference (IPC). Sponsored by the National Petrochemical & Refiners Association (NPRA), the conference runs through Tuesday.
Stanutz said the company "for the most part" has finished with its round of staff reductions that began last year and has no immediate plans for idling any more plants.
Regarding last year's job cuts, Stanutz said the company had no other choice, noting that cost reductions ranked as the only strategy where Huntsman had control of its fortunes. He said the company could do nothing about the external factors of the US recession combined with high energy costs.
Stanutz joined with a number of his colleagues here in expressing an optimistic view of the future both for Huntsman Corporation and the industry in general. He compared the atmosphere this year with his experience a year ago and said the transformation in attitude is evident everywhere.
He said: "We are more optimistic and believe chemicals will continue to grow."
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