29 October 2013 16:44 [Source: ICIS news]
HOUSTON (ICIS)--Huntsman expects prices to remain stable for the ores that it buys to produce titanium dioxide (TiO2), the CEO said on Tuesday.
Huntsman relies on ilmenite ore and sulphate slag for the majority of its TiO2 production.
The core contracts that the company has for its ilmenite ore and sulphate slag should remain stable if not facing downward pressure, said Peter Huntsman, CEO. He made his comments during an earnings conference call.
Over the next two years, Huntsman does not expect much volatility in the company's ore prices.
Rutile, the other major TiO2 ore, should also remain stable, although it could see some upward price pressure, he said.
In related news, Huntsman announced in September that it is acquiring from Rockwood the company's performance additives and titanium dioxide (TiO2) business for $1.1bn (€792m) in cash plus unfunded pension liabilities of around $225m.
The deal will make Huntsman the second-largest global producer of TiO2 and inorganic colour pigments.
($1 = €0.72)
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