Hunstman considers options for textile effects
Dyeing / Finishing / Printing
Texas-headquartered Huntsman Corporation plans to conduct a strategic review of its Singapore-headquartered Textile Effects division, including the possible sale of the division, in the first quarter of 2022.
“We have been transparent in our ongoing assessment of divestment opportunities that are both aligned with our strategic objectives and in the best interests of our shareholders,” said Peter R. Huntsman, Chairman, President and Chief Executive Officer. The direction. âWe believe the time has come to explore options for textile effects. We expect the division to generate nearly $ 100 million in Adjusted EBITDA in 2021, recovering much of what was lost due to Covid-19. While its value-added portfolio of sustainable products is in line with Huntsman’s strategic direction, it may well be that an outside party recognizes the value of these extremely attractive assets and is a better owner for them.
Huntsman has not set a timeline or deadline for concluding its assessment of strategic alternatives for the Textile Effects division but “plans to act quickly.”
Huntsman Textile Effects is a leader in textile dyes, chemicals and digital inks and at the forefront of developing sustainable textiles with advanced technology such as durable non-fluorinated water repellency and environmentally friendly digital printing. ‘environment. Its award-winning Avitera reactive dyeing technology helps textile mills increase throughput, improve productivity and reduce processing costs by dramatically reducing water and energy consumption. The division operates 13 synthesis and formulation production sites in Asia, Europe and America.