Huntsman Corporation eyes US$ 1bn sales in India

28 Jan '13

2 min read

Huntsman Corporation, a global producer and marketer of differentiated chemicals, has unveiled its plans to enhance capacities and boost its India revenues to US$ 1 billion by 2018-19.

Operating companies of Huntsman Corporation produce items catering to a wide range of global industries, including textiles.

The newly appointed Vice President and Managing Director, Indian Subcontinent, Steve Stilliard told PTI that they have impressive growth plans for India, and are eyeing capital expenditure of US$ 10 million per annum and annual growth rate of 13 to 15 percent in Indian market, The Economic Times reported.

Having over 1,000 associates, Huntsman’s India sales presently stand at over US$ 500 million, and the company aims to boost this to US$ 1 billion by 2018-19, he added.

Huntsman is also planning to acquire a mid-sized Indian company, which would strengthen its technology and aid its further expansion in the Indian market.

Performance products and advanced materials that find utility in the textile industry and polyurethanes are the key contributors to the firm’s revenues in India.

Performance products like carbonates, amines and certain speciality surfactants are used in several consumer and industrial applications.

Firstly recognized as a pioneer for innovations in packaging, Huntsman has also earned fame for speedy and integrated development in petrochemical industry. The company employs around 12,000 people at its operations at various places across the globe.

Fibre2fashion News Desk - India

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