Huntsman Textile Effects to Establish New Headquarters in Singapore
Basel, Switzerland – Huntsman Textile Effects, a division of Huntsman Corporation (NYSE: HUN) and a leading manufacturer of dyes and textile chemicals, today announced it will establish new headquarters in Singapore.
The move is a major milestone of the division’s previously announced restructuring and will significantly contribute to the division’s focus on serving selected global market segments from the region most expected to fuel growth in the years to come.
Headquarters for Textile Effects is currently located at the division’s long-standing site in Basel, Switzerland. The Basel site will remain a major manufacturing, research & technology and European customer service location for Textile Effects, and also acts as headquarters of Advanced Materials, another Huntsman division.
“This is an important strategic decision,” said Paul Hulme, President of Huntsman Textile Effects. “The relocation of the divisional headquarters and its leadership team is the next important step in our restructuring program and will ensure that the business is fully aligned to market trends and customer needs. The move will enhance our customer intimacy, shorten decision-making processes and complement our realigned manufacturing footprint and business support model. It also brings us closer to our sales and customer support organization in Asia, which is already the largest in Textile Effects.”
Members of the Textile Effects leadership team are expected to move by mid-year and will relocate to the existing Huntsman Gateway Center at Beach Road. Vice Presidents and Directors responsible for Global Manufacturing, Supply Chain, Human Resources, Finance and Legal will relocate there, along with the business Vice President, Directors and commercial team responsible for its global Apparel & Home Textiles business unit.
“Geographically, Singapore is an ideal location from which to serve the markets in China, India and South-East Asia, but also allows us to continue to serve and grow our business in Europe and the Americas,” Paul Hulme added. “Singapore was chosen from a number of possible locations, primarily because of its proximity to our key growth markets, the excellent international business environment encouraged by the Singapore Economic Development Board, and the availability of the high quality professionals that will be critical to the continued growth of our global business.”
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