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An outage at a Texas plant and a stronger U.S. dollar caused Huntsman Corp.’s profits to tumble by 75 percent in the second quarter.
The acquisition of assets from New Jersey-based Rockwood Holdings makes Huntsman the second-largest maker in the world of titanium dioxide and inorganic color pigments, used in paint, coatings and other products.
Huntsman Corp. plans a $125 million expansion of its Port Neches plant that will boost local production by 25 percent, employ 325 construction workers and make use of a refurbished production unit floated down the Neches River by barge from a shuttered Beaumont plant.
Widening the rift over exports of U.S. natural gas, Huntsman Corp. has joined a coalition campaigning against more foreign sales of the fossil fuel. The move follows Dow Chemical’s decision to break ties with the National Association of Manufacturers over the dispute.
Michael Mann, a Pennsylvania researcher who’s been a target of climate-change skeptics, was cleared of wrongdoing by U.S. investigators in the flap surrounding e-mails hacked from a U.K. university.