29 July 2011 12:02 [Source: ICIS news]
Hulme said that 55% of Huntsman’s textile effects business is in
“If you look at growth by region, business continues to grow in
In 2010, the company’s global textile effects operations generated $787m in revenues, up 14% from 2009. The business accounted for 8.5% of Huntsman’s total revenue.
Huntsman relocated the global headquarters of its textile effects business to
Huntsman has set up a formulation and distribution centre in
Elsewhere in Asia, Huntsman has textile effects production units in
“This shows our continued investment in the region and to be closer to our customers and to market demand. All of our facilities are expandable depending on market demand,” Huntsman said in an e-mailed statement to ICIS, but did not disclose further details.
“We have continually been re-aligning the business [and] our manufacturing footprints to the market… We are very much focused on key markets, particularly in Asia, while protecting our business in Europe and the
The eurozone and US are currently grappling with respective debt issues that will heavily weigh on overall consumption if further fiscal austerity measures are required.
Hulme said these economies may take about two to three years to fully recover from this predicament.
Huntsman’s textile effects business has launched 60 new technology products over the past two years, on which the operations derived a quarter of its sales, company executives said.
So far this year, the company has introduced a total of 22 new products aimed at environmental sustainability as well as in reducing customers’ operational cost, said Steve Gray, vice president for research and technology on global textile effects at Huntsman.
Among its new products is Avitera, which is designed to reduce water and energy consumption in the textile dyeing process, company executives said.
Huntsman continuously invests in technology, with a yearly budget for research and development set at 5% of annual revenue, said Hulme.
($1 = €0.70)
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