Negative impacts for textile effects
Various negative impacts for the Textile Effect division of US Huntsman Corporation
Huntsman Corporation (USA) reports in the third quarter of 2011 less turnover and profit for its Textile Effects Division. Sales decreased from USD 190 million by 9 % to USD 173 million and for the nine months of this year 6 % lower or a reduction from USD 598 million to US 563 million. The operating result (EBITDA) has also been affected negatively dropping in the third quarter from positive USD 8 million to negative USD 29 loss and over nine month of the ongoing year from USD +16 million to USD -42 million. Third quarter pricing was subjected to various effects, negatively by 2 % in local currencies and 13 % in sales volume but positively by 6% regarding exchange rate, but in total a 9% negative effect was provoked. Over nine months local currencies and exchange rate were positive, one percent respectively 4%, negative were sales mix and other effects by one percent, 10% regarding the sales volume resulting to a total decrease of 6%. No wonder that Huntsman wants to reduce its presence in Switzerland and move operations to less costly Asia.