Huntsman to restructure Color Pigments business

Huntsman Corporation has announced plans to restructure its Color Pigments business, another step in its plan to significantly restructure its global Pigments and Additives business. The restructuring of Color Pigments includes an expected headcount reduction of 120 positions and will deliver US$20M by mid-2016 toward the total synergies expected of the global pigments and additives restructuring plan announced in December 2014.

The initial phase will include site closures, cost reduction initiatives and a move to centralised shared services, in addition to investment in customer focused R&D. Manufacturing sites to be closed by year-end 2015, all of which are leased, include Cartersville, Georgia; East St Louis, Illinois and King of Prussia, Pennsylvania, USA, in addition to Hainhausen, Germany. Products produced by these facilities will be supplied by other Huntsman facilities including the soon to be completed facility in Augusta, Georgia.