Home / Knowledge / News / Textiles / Crude oil price fall to prove beneficial: Huntsman CEO
Crude oil price fall to prove beneficial: Huntsman CEO
09
Jan '15
Global manufacturer and marketer of differentiated chemicals, Huntsman Corporation has said that fall in crude oil prices will prove to be beneficial to Huntsman over the long term.

In a statement, Huntsman CEO Peter Huntsman said, “In an environment where oil prices are sustainably low, Huntsman Corporation will emphatically be a beneficiary over the long term, since many of our raw materials are derived from the oil refining process.”

Peter Huntsman issued this statement in response to inquiries regarding the business impact of lower priced oil on Huntsman, as crude oil prices have declined from US $112 per barrel in June 2014 to $50 now.

He added, “We expect our margins to improve as the cost of our raw materials decrease and also expect a meaningful working capital release, which will help strengthen our balance sheet.”

“Lower priced oil should provide more discretionary spending for consumers; approximately one third of our business is consumer oriented,” he informed.

Since Huntsman has a number of growth projects underway, it expects its business to improve throughout 2015.

Huntsman Corporation posted 2013 revenues of approximately $13 billion including the acquisition of Rockwood’s performance additives and TiO2 businesses.

It operates more than 100 manufacturing and R&D facilities in more than 30 countries and employs approximately 15,000 associates within its five distinct business divisions. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search