Ho Chi Minh City, Vietnam – Huntsman is addressing critical business challenges and collaborating with mills and brands in order to drive sustainable growth and create value in Vietnam’s textile industry.
“Vietnam’s textile industry continues to face economic and environmental pressures. To help customers stay ahead of the game, Huntsman Textile Effects recognizes that speed and flexibility are top priorities across the textile value chain. We are fully committed to Vietnam’s textile growth story and are pleased to announce the opening later this month of a new bonded warehouse near Ho Chi Minh City,” said Paul Hulme, President, Huntsman Textile Effects.
Customers will benefit from shorter order lead times and a quicker response to ad hoc deliveries through the new facility. The warehouse positions Huntsman to support customers’ growth objectives when free trade agreements like the Trans-Pacific Partnership are formalized.
The multi-user facility is located in the inland container depot (ICD) at Long Binh. The warehouse is scalable to meet industry growth potential.
Vietnam is the second largest garment exporter to the US and Japan. The industry currently accounts for 14% of Vietnam’s total exports. The country’s textile value chain has strong growth fundamentals, with production poised to grow by about 13% annually until 2020. Current challenges include import-dependent sourcing of raw materials and tougher environmental regulations.
As a leading supplier of sustainable and innovative dyes and chemicals, Huntsman engages with customers through seminars to work towards a sustainable textile value chain. It held a customer seminar for regional customers in Ho Chi Minh City on May 6.
Huntsman Textile Effects is already supporting the textiles sector in Vietnam through its work with Panko Vina in implementing a Productivity Improvement Pr
ogram (PIP). The plant has already adopted new technologies from Huntsman Textile Effects to save energy and water. The program will enable Panko Vina to optimize and standardize its processes and work practices to gain maximum benefit from these advanced systems and further improve yield and product quality. The PIP also reinforces the knitwear mill’s growth as a sustainable export business.
Huntsman Textile Effects has a range of products designed to specifically address environmental pressures and regulations. Its groundbreaking AVITERA® SE dyes for cellulosic fibers dramatically reduce water and energy consumption. As the industry moves towards the withdrawal of C8 chemistry, Huntsman leads the market with PHOBOTEX® fluorine-free hydro polymers that effectively protect against rain and everyday stains.
AVITERA® and PHOBOTEX® are registered trademarks of Huntsman Corporation or an affiliate thereof in one or more, but not all countries.
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Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2014 revenues of approximately $13 billion including the acquisition of Rockwood’s performance additives and TiO2 businesses. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 100 manufacturing and R&D facilities in more than 30 countries and employ approximately 16,000 associates within our 5 distinct business divisions. For more
information about Huntsman, please visit the company's website at www.huntsman.com.
About Huntsman Textile Effects
Huntsman Textile Effects is the leading global provider of high quality dyes and chemicals to the textile and related industries. Sustainability, innovation and collaboration are at the heart of what we do. We use cutting edge technology to develop solutions and create innovative products with intelligent effects such as built-in freshness, sun protection or state-of-the-art dyes which reduce water and energy consumption. All these go toward meeting the needs of our customers in supporting a more sustainable environment. Selling into more than 90 countries and with presence including eight primary manufacturing facilities in seven countries (China, Germany, India, Indonesia, Mexico, Thailand, Switzerland) and 14 Formulation Distribution Centers spread across 12 countries, Huntsman Textile Effects is uniquely positioned to provide fast and expert technical service wherever our customers are based.
Forward Looking Statements:
Statements in this release that are not historical are forward-looking statements. These statements are based on management’s current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company’s operations, markets, products, services, prices and other factors as discussed in the Huntsman companies’ filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. In addition, the completion of any transactions described in this release is subject to a number of uncertainties a
nd closing will be subject to approvals and other customary conditions. Accordingly, there can be no assurance that such transactions will be completed or that the company’s expectations will be realized. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.