Huntsman to cut 90 jobs in PU integration
03 April 2003 18:40 [Source: ICIS news]
HOUSTON (CNI)--Huntsman International Holdings is reducing its polyurethanes (PU) business workforce by 90 employees as part of a decision to fold its global flexible products unit into its global derivatives division, CNI learned Thursday.
Huntsman spokesman Don Olsen told CNI the company announced the decision 11 March in an internal memorandum but did not release a statement to the press.
The company included information about the decision in its annual report filed recently with the US Securities and Exchange Commission (SEC) and reviewed Thursday by CNI.
Olsen said the job cuts will be accomplished over time but he could not immediately provide additional details and no one was available in the company's Belgium office to elaborate.
Besides announcing the consolidation and job cuts, the annual report also cited two previously unannounced plant closings - a surfactants facility in Alcover, Spain and a titanium dioxide (TiO2) plant in Greatham, UK. Olsen referred questions about Alcover to company sources in Europe but they were unavailable.
Regarding Greatham, Olsen said the closure occurred simultaneously with the opening of a new line there, effectively transferring new capacity for old.
In the Salt Lake City, Utah-based company's annual report, Huntsman told the SEC: "We are integrating our global flexible products division into our global derivatives division. This realignment is part of a continuous drive by our polyurethanes segment to achieve a lowest cost position, as well as to address difficult global economic conditions and increased market pressure."
The reported continued: "In total, approximately 90 positions will be eliminated."
By: Gary Taylor
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