Textile Effects operates eight primary manufacturing facilities in Germany, Switzerland, Mexico, China, India, Indonesia and Thailand, as well as 14 formulation distribution centers. The division’s revenue in 2020 was $597 million, making up 10% of Huntsman’s total sales. Adjusted EBITDA was $42 million, representing a slump of 50% from the year before.

"We believe now is the right time to explore options for Textile Effects. We expect that the division will generate close to $100 million of adjusted EBITDA in 2021, recovering much of what was lost due to Covid-19,” said chairman, president and CEO Peter Huntsman. “While its value-added portfolio of sustainable products is consistent with Huntsman's strategic direction, there may well be an external party that recognizes the value of these extremely attractive assets and will be a better owner for them.”

Author: Elaine Burridge, Freelance Journalist