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Huntsman to raise Textile Effects Product prices
15
Feb '08
Huntsman Corporation announced that in response to continued increases in the cost of labour, raw materials, utilities and transportation, its Textile Effects business will increase prices by up to 15% across a range of products. The price increases are effective March 1, 2008, or as applicable contracts allow.

Paul Hulme, President of Huntsman's Materials & Effects division, commented, "As with any successful partnership between supplier and customer, there needs to be a win-win proposition that allows our customers to be successful in their chosen markets and for ourselves to be successful by returning operating margins that continue to justify on-going re-investment."

Since acquiring the Textile Effects business from Ciba Specialty Chemicals in June 2006, Huntsman has committed over $150 million in restructuring costs and investments to achieve improvements to cost competitiveness and service to its customers.

In addition, through on-going investment in research and technology, Huntsman has strengthened its Textile Effects technology portfolio and platform, significantly increasing the number of exciting new products and projects within its development pipeline. Huntsman is also investing in capacity expansion to relieve the lead time on product lines that have proven extremely successful since launch.

"I believe that with this level of on-going investment and commitment to innovation, we will continue to maintain our position as a leading innovator and solution provider in the textile dye and chemical industry and fulfill our continued desire to be our customers' number one partner of choice," Hulme added.

Huntsman Corporation

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