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We took preventive measures to reduce impact of crisis – Mr Wolff, Huntsman

29
May '09
The one sub-sector which took the biggest hit due to the fallout of the economic turmoil in the United States was the textiles dyes and chemicals industry. Prices of this vital raw material came crashing down along with other commodities in global markets, within days of the unfolding of the crisis.

The enterprises within the fold of the dyes and chemical sector were overnight caught in a quick quagmire and were left holding high priced inventory, whose prices had crashed by as much as 40-50 percent and add to that was the accompanying slowdown and a falling market.

We spoke to Mr Guy Wolff, Director (Business Communications), Huntsman Advanced Materials & Textile Effects Division to get a more crystal clear picture of the chemicals company in current times. Huntsman Textile Effects serves over 10,000 customers located in 80 countries and is the leading global supplier of comprehensive solutions for the textile industry.

It provides innovative value adding effects and processing solutions to its customers such as brilliant colors with high fastness, easy care, durable protection against oil, water and fire as well as a complete range of pretreatment and dyeing auxiliaries. The business has about 4,200 employees and operates 11 primary manufacturing facilities located in eight countries.

We asked Mr Wolff as to how he foresees the rest of 2009 and when according to him, does he expect the dark clouds of this economic storm to blow over, to which he said, “While the visibility on the full year is still poor we see encouraging signs. Inventories have been depleted and we are seeing stocks now being replenished to meet current demand”.

He explained by saying, “Raw material costs have stabilized and in some cases are increasing as production volume has been adjusted to meet market needs of today and at Textile Effects we also benefited from new business, thanks to our innovation pipeline and we are also attracting many new customers and applications mostly with new high-performance or cost effective products within our Novacron, Lanasol, Terasil, and Tectilon dye brands and with innovative effects such as Silpure and Oleophobol”.

“This is extremely encouraging with respect to our new strategy, the implementation of which goes on at full speed despite the crisis and when we received fewer orders, we took preventive measures to reduce volumes and inventories as in most sites our associates consumed their holidays and wherever possible, we introduced short time work days as this allows to maintain the work force and to be ready whenever the markets recover”, he concluded by saying.

Fibre2fashion News Desk - India


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