Huntsman Plans to Shut Europe Plant as Pigments Weaken
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Huntsman Corp., the world’s second-biggest maker of titanium dioxide pigment, is planning to close one of its European plants amid weak demand for the white colorant used in paints and plastics.
Huntsman probably doesn’t need all seven of its European plants that make titanium dioxide, known by its chemical formula TiO2, Chief Financial Officer Kimo Esplin said today in a conference webcast. The Salt Lake City-based chemical maker may spend 100 million euros ($124 million) to close 100,000 tons of annual pigment production, he said.