19 February 2010 17:15 [Source: ICIS news]
“As a result of the market confusion created by the [DyStar insolvency] we have been able to win competitive market share,” chief executive Peter Huntsman said during the company’s 2009 fourth-quarter results conference call.
During the quarter, Huntsman saw textile chemicals volumes up 25% year over year in Asia and the
Dyeing, printing and cotton knit businesses in
At the same time, Huntsman was achieving cost reductions, it said. The company has moved the bulk of its textile chemicals production to
Huntsman’s fourth-quarter textile chemicals sales rose 10.6% to $187m (€137m), and the segment narrowed its quarterly loss to an adjusted operating loss of $13m from a loss of $20m in the 2008 fourth quarter.
However, for the full 12 months of 2009, the adjusted operating loss widened to $56m from a loss of $10m in 2008, on sales of $691m, down 23% from 2008.
Textile chemicals had suffered last year as global apparel consumption plummeted by about 20% in 2009 from 2008, Huntsman executives said during the call.
However, Huntsman’s textile prices and contribution margins per unit were stable, they stressed.
The decline was due falling volumes, Huntsman executives said. This meant that with a cyclical recovery, the business should become profitable again later this year, they said.
In a related industry development, Swiss specialty chemicals major Clariant said this week it would close its textile dyes and chemicals production in
($1 = €0.73)
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