Huntsman Plan To Reduce European Titanium Dioxide Capacity - Quick Facts

(RTTNews) - Huntsman Corp. (HUN) announced that it plans to reduce its Titanium Dioxide or TiO2 capacity approximately 100kt, representing 13% of Huntsman's European TiO2 capacity. The plan will generate approximately $35 million of annual savings.

Having looked at different options Huntsman proposes to close specific operations at its Calais, France site. Huntsman plans to close the 'black end' manufacturing operations and ancillary activities during 2015. The 'black end' is responsible for the start of the titanium dioxide manufacturing process. The 'white end' is used to finish and pack TiO2 and will remain operational employing up to 100 people on the site.

The announcement is in addition to the plan announced in December 2014. Annual cost savings from that plan are expected to be approximately $130 million and will be achieved by the middle of 2016.