Readers last week were most interested in an announcement from Huntsman regarding the future of its Textile Effects Division, as well as a new executive compensation plan (Huntsman Announces Two New Corporate Initiatives): “Huntsman Corp. recently announced two new corporate initiatives regarding its executive compensation plan and the future of its Textile Effects Division. The initiatives include a review of strategic options for its Textile Effects Division and a multi-year compensation plan designed to align the incentives of Huntsman's management team with the targets presented at the company’s Investor Day in November.
“The Huntsman board of directors has authorized management to conduct a strategic review of the Textile Effects Division, which is headquartered in Singapore, including a possible sale of the division. The review will begin early in the first quarter of 2022.
“‘We have been transparent about our continued evaluation of divestment opportunities that are both in line with our strategic goals and in the best interests of our shareholders,’ said Peter R. Huntsman, chairman, president, and CEO. ‘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. 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.’”
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Top 5 News that Sticks for January 9-15
- Huntsman Announces Two New Corporate Initiatives
- Zaheer Joins H.B. Fuller’s Board of Directors 2nd week at #2
- RPM International Posts Double-Digit Sales Growth for Fiscal Second Quarter
- Huber Engineered Materials Acquires MAGNIFIN
- Michelman Implements Changes in Executive Leadership
This weekly roundup highlights the adhesives, sealants, and coatings-related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media channels.