NEWS
17 Apr 19
Huntsman Textile Effects and Swiss Colours Bangladesh host Roundtable for Industry Decision Makers

FOR IMMEDIATE RELEASE
11 April 2019

CONTACTS:
Huntsman Textile Effects:

Marilyn Chua: +65 6390 0339
marilyn_chua@huntsman.com

Elin Lim: +65 6390 6492
elin_lim@huntsman.com

 

Bangkok, Thailand, April 2- 3, 2019 – More than 20 senior leaders from key Bangladeshi textile companies came together in Bangkok to discuss challenges and opportunities in textile wet processing as competition in the sector intensifies around the world.

The roundtable meeting, jointly organized by Huntsman Textile Effects and Swiss Colours Bangladesh, provided a forum for business leaders to exchange ideas on how textile manufacturers in Bangladesh can improve their productivity and move up the value chain. It was also an opportunity for the group to explore innovative new technologies and process innovations.

Speaking at the roundtable, Rohit Aggarwal, Huntsman Textile Effects President, said, “As the long-term partner of Bangladesh's textile industry leaders, we are fully committed to driving sustainable solutions that are environmentally friendly and economically sound. We believe in collaboration and are pleased to be able to share our expertise and our technologies to help our customers produce higher value products from a cleaner and more efficient supply chain.”

The roundtable also included a tour of Huntsman Textile Effect’s world-class manufacturing site at Mahachai, which is about 50 km outside the Thai capital. Participants saw how Huntsman’s high-quality reactive, wool and polyamide dyes and digital inks are produced and discusse d environmental, health and safety (EHS) best practices with leaders at the site.

“Bangladesh is an important market for Huntsman Textile Effects and we work closely with our partner Swiss Colours to provide customized and innovative solutions for this market,” said Chuck Hirsch, Vice President, Commercial, at Huntsman Textile Effects. “Our aim is to enable our customers to stay at the forefront of industry trends and regulatory changes and create a more successful and sustainable textile industry in Bangladesh.”

The textile and ready-made garments (RMG) sector accounts for 84% of the annual exports of Bangladesh, and downstream investment in textile processing is increasing to keep up with higher demand for high-quality dyed and printed fabric from local exporters1. Price pressure in the sector remains intense, and costs are increasing as wages rise and mills make changes to meet stricter EHS standards and remove restricted chemicals from the supply chain2.

1 https://asia.nikkei.com/Business/Business-trends/Bangladesh-fights-for-future-of-its-garment-industry
2 https://www.dhakatribune.com/business/2019/01/07/bangladesh-textile-sector-saw-investment-of-tk6-900-crore-in-last-five-years

 

About Huntsman:
Huntsman Corporation is a publicly trade d global manufacturer and marketer of differentiated chemicals with 2018 revenues of approximately $9 billion. 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 75 manufacturing and R&D facilities in approximately 30 countries and employ approximately 10,000 associates within our 4 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, chemicals and digital inks to the textile and related industries. With operations in more than 90 countries and seven primary manufacturing facilities in six countries (China, Germany, India, Indonesia, Mexico and Thailand), Huntsman Textile Effects is uniquely positioned to provide prompt and expert technical service wherever our customers are based. 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 durable water repellents, color fastness, sun protection or state-of-the-art dyes which reduce water and energy consumption. For more information about Huntsman Textile Effects, please visit www.huntsman.com/textile_effects.

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, mark ets, 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. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.