Home / Knowledge / News / Textiles / Huntsman to restructure Textile Effects Business in Basel
Huntsman to restructure Textile Effects Business in Basel
28
Sep '11
Huntsman Corporation announced that its Textile Effects (TE) division plans to implement a significant restructuring, including the possible closure of its production facilities and business support offices in Basel, Switzerland, as part of an on-going strategic program aimed at improving its long-term global competitiveness.

The planned restructuring and the possible closures could affect approximately 600 positions in Basel, with potentially 500 job losses and 100 positions moving to other sites across the organization, to build capability closer to customers. In addition, there will be a further 100 new hires added in key markets and the division's Basel-based Research & Technology department will not be affected by the planned restructuring, as the Business remains totally committed to strengthening its innovation capability.

Consultations with labor representatives have commenced and the planned restructuring (including possible closures) are targeted for completion by the end of 2013.

Commenting on the planned restructuring, Peter R Huntsman, President and CEO of Huntsman Corporation, said: "We need to take bold action to fundamentally improve the poor financial performance of our Textile Effects division. We've made extensive and costly efforts to boost this division's competitiveness since acquiring the Business in 2006, but as customers and competitors alike have increasingly moved their centers of business to Asia, we must re-align ourselves according to these industry trends. The recent strengthening of the Swiss franc has greatly impacted our cost structure in Switzerland, which just serves to reinforce the need for re-alignment."

Paul Hulme, President of the Textile Effects division, added: "The planned restructuring builds on the difficult, but successful changes undertaken in the last few years and is designed to ensure that the TE Business is strongly positioned to compete successfully against the ever increasing Asian competitor base and deliver long-term profitable growth for our shareholders and associates.

Also, importantly from a customer perspective, in case of a possible closure, the transition of production to other Huntsman sites will be carefully phased, ensuring continued product availability and deliveries. We will, of course, manage this process openly and fairly, treating our employees with the dignity and respect they deserve."

Huntsman's Advanced Materials division will continue activities at its sites in Basel and Monthey, Switzerland.

Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging.

Huntsman Textile Effects is the leading global provider of high quality dyes and chemicals to the textile and related industries. Research, innovation and sustainability are at the heart of what we do and we use cutting edge technology to develop innovative solutions to create innovative products and technologies with intelligent effects, such as built in freshness, sun protection or state-of-the-art dyes to reduce water and energy consumption, meeting the needs of our customers and supporting a more sustainable environment.

Huntsman Corporation


Must ReadView All

Courtesy: American & Efird

Textiles | On 20th May 2018

A&E introduces Repel

American & Efird (A&E), a global leader in industrial sewing thread...

Archroma working with House of Denim Foundation

Textiles | On 20th May 2018

Archroma working with House of Denim Foundation

Archroma, a leader in colour and specialty chemicals, has joined...

Courtesy: Amazon

Textiles | On 20th May 2018

Amazon opening first fulfillment centre in Tucson

Amazon.com is opening its first fulfillment centre in Tucson, which...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search