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Huntsman Says Pigment Talks Include Creating New Company

Huntsman Corp. said talks about consolidating the titanium-dioxide pigment industry include an option to merge assets with a competitor’s and spin off the new company to shareholders.

Huntsman, the fourth-biggest producer of the pigment known by its chemical formula TiO2, said in April that it may divest the unit that makes the commodity or acquire assets. Chief Executive Officer Peter Huntsman said on a conference call today that talks continue.