Huntsman repositions surfactants business in Europe The Performance Products division of Huntsman announced plans to re-focus its surfactants business in Europe. The company plans to transition away from a number of surfactant assets and product lines that have commoditized and to focus on developing and growing the remaining differentiated surfactants business in Huntsman's strategic markets. Relevant authorities and social partners will be fully consulted. It is estimated that about 250 Huntsman Performance Products European positions could potentially be affected by these changes during the next 18 months. Upon completion the company expects the annual EBITDA benefit will be approximately $20M.
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Huntsman upgraded to Buy from Neutral at Goldman Goldman upgraded Huntsman based on the belief TiO2 has bottomed and offers cyclical leverage to a global economic recovery. Price target raised to $29 from $22.