Huntsman (HUN) to Shutter South African TiO2 Facility
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Huntsman Announces Plan to Close its South African Titanium Dioxide (TiO2) Manufacturing Facility
July 6, 2016 6:30 AM EDTTHE WOODLANDS, Texas, July 6, 2016 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) announced today a plan to close its 25,000 metric ton TiO2 manufacturing facility based in Umbogintwini, South Africa during the fourth quarter 2016. Closure of the facility will have a cash pay-back of less than two years. Cost savings from this closure are in addition to the approximately $200 million previously announced.
Employing approximately 140 Associates, the Umbogintwini plant is the smallest and oldest TiO2 manufacturing plant in the Pigments and Additives division. Under the proposed plan, production at the plant will end during... More
