Plummeting oil prices are expected to have a positive effect on Huntsman as majority of the raw materials are derived from crude oil. Stating the impact of lower priced oil on the business, Peter Huntsman, president and chief executive officer, Huntsman Corporation, said, “In an environment where oil prices are sustainably low, Huntsman Corporation will emphatically be a beneficiary over the long term. Many of our raw materials are derived from the oil refining process.”
Huntsman expects margins to improve as the cost of raw materials come down. “We also expect a meaningful working capital release which will help strengthen our balance sheet. Lower priced oil should provide more discretionary spending for consumers; approximately one third of our business is consumer oriented. We have a number of growth projects underway; I expect our business to improve throughout 2015,” he added.
Huntsman Corporation, a global manufacturer and marketer of differentiated chemicals, had recorded revenues of approximately $13 billion in 2013, including the acquisition of Rockwood's performance additives and TiO2 businesses.
Huntsman expects margins to improve as the cost of raw materials come down. “We also expect a meaningful working capital release which will help strengthen our balance sheet. Lower priced oil should provide more discretionary spending for consumers; approximately one third of our business is consumer oriented. We have a number of growth projects underway; I expect our business to improve throughout 2015,” he added.
Huntsman Corporation, a global manufacturer and marketer of differentiated chemicals, had recorded revenues of approximately $13 billion in 2013, including the acquisition of Rockwood's performance additives and TiO2 businesses.