Wed, Mar. 4, 4:50 PM
- Huntsman (NYSE:HUN) unveils a plan to restructure its color pigments business, which will include site closures, cost reduction initiatives and a cut of 120 positions.
- Manufacturing sites to be closed by year-end 2015 include Cartersville, Ga., East St. Louis, Ill., and King of Prussia, Pa. in the U.S., as well as a plant in Germany.
- HUN says the move will contribute $20M by the middle of 2016 to its plan to deliver more than $140M in synergies.
- HUN +0.3% AH.
Wed, Feb. 18, 6:02 AM
Tue, Feb. 17, 5:30 PM
Mon, Feb. 9, 4:38 PM
Wed, Jan. 7, 8:19 AM
- Huntsman (NYSE:HUN) CEO Peter Huntsman says his company "will emphatically be a beneficiary over the long-term" in a sustained environment of lower oil prices, as many of its raw materials are derived from the oil refining process.
- The CEO says HUN's margins should improve as the cost of its raw materials decreases and that lower-priced oil will provide consumers with more discretionary spending, which is important for HUN since about one third of its business is consumer-oriented.
- Huntsman also expects a meaningful working capital release which will help strengthen the balance sheet, and believes the company's business will improve throughout 2015.
- HUN +0.7% premarket.
Dec. 11, 2014, 3:16 PM
- Huntsman (HUN -4.8%) says it is planning to close one of its European titanium dioxide pigment plants amid weak demand for the white colorant used in paints and plastics.
- HUN probably does not need all seven of its European plants that make TiO2, CFO Kimo Esplin says, adding that it would need to spend €100M ($124M) to close 100K tons of annual pigment production.
- HUN last week announced a restructuring program aimed at pigments and additives business, and that is was evaluating TiO2 capacity reduction.
Dec. 5, 2014, 4:38 PM
Dec. 1, 2014, 8:52 AM
- Huntsman (NYSE:HUN) says it will cut 900 jobs in its pigments and additives business as part of a restructuring plan intended to save ~$130M/year by mid-2016.
- HUN says it plans to have an IPO of the pigments and additives division in the future, without providing further details.
- HUN also says it completed the restructuring in its Advanced Materials and Textile Effects divisions, allowing annual savings of ~$150M.
Oct. 27, 2014, 12:58 PM
- Huntsman (HUN -5.6%) is sharply lower after reporting Q3 earnings that beat estimates but revenue fell a bit short of expectations, and adjusted EBITDA fell 5.3% vs. the prior year quarter.
- Revenue in HUN's polyurethanes, textile effects and pigments segments rose Y/Y, while performance products revenue declined and advanced materials revenues were flat.
- The boost in the polyurethane business was partially offset by a drop in sales volumes of propylene oxide and methyl tertiary butyl ether at HUN’s Port Neches facility in Texas, which experienced an unplanned disruption during Q3; the outage cost the company $30M in earnings, and HUN plans to take the plant offline in February for routine maintenance that will cost $60M, including lost revenue.
- HUN expects its $1.1B acquisition of Rockwood Holdings' performance additives and titanium dioxide businesses will add $0.70 to EPS by mid-2016.
Oct. 27, 2014, 6:04 AM
Oct. 26, 2014, 5:30 PM
Sep. 12, 2014, 8:02 AM
Sep. 10, 2014, 7:54 AM
- Huntsman (NYSE:HUN) gains EU regulatory approval for its proposed $1.1B purchase of Rockwood Holdings' (NYSE:ROC) titanium dioxide pigment business after agreeing to sell an asset.
- The European Commission says HUN will sell its global TR52 business, which is its main titanium dioxide grade used for printing ink applications, to allay competition concerns.
- HUN is upgraded to Buy from Neutral with a $32 price target, up from $29, at Citigroup.
Aug. 15, 2014, 12:23 PM
- Huntsman (HUN -1.2%) says an equipment failure caused an unplanned disruption at a production unit at its chemical manufacturing facility in Port Neches, Tex.
- HUN says the affected unit is expected to be offline for 2-3 weeks, with an estimated negative impact of $30M EBITDA for its polyurethanes and performance products divisions.
- Trading has resumed after a brief halt.
Jul. 30, 2014, 7:13 AM
Jul. 29, 2014, 5:30 PM
- AB, ACCO, ADT, AMED, AMT, ATRO, AUO, BAH, BDC, BEN, CFR, CVE, D, DHX, DORM, DX, ENR, EVER, GIB, GRMN, GT, HAE, HES, HSP, HUM, HUN, IACI, ICLR, INGR, LFUS, LL, LO, LPLA, MGAM, MINI, MMYT, MRGE, MWV, NICE, NVMI, PAG, PBI, PEG, PSX, PSXP, PTRY, ROK, RRD, S, SAIA, SEE, SGNT, SMP, SO, SODA, SONS, SPB, SPW, TASR, TFX, TRI, VLO, VLY, WEC, WLP
HUN vs. ETF Alternatives
Huntsman Corp is a manufacturer of differentiated organic chemical products and of inorganic chemical products. It operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects and Pigments and Additives.
Other News & PR