Huntsman to cut 470 jobs

Huntsman has announced that it will cut 470 jobs in a new effort to trim costs in the unit manufacturing and supplying dyes and chemicals.  The cuts represent about 12% of the 3,900 employees in the Textile Effects business acquired in June 2006 from Ciba Specialty Chemicals.

Huntsman is in the throes of fighting to complete its buyout by a unit of Apollo Management LP. 

Huntsman to raise prices

Huntsman Corporation announced price increases on all products - some of up to 25%. The justification is based on, 'Sharp and sustained increases in its costs for energy, commodity and intermediate feedstocks, and transportation. The amount of each price increase and energy surcharge will vary by product, in accordance with costs attributed to each product.'