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Home | News |Huntsman completes repurchase of 8.6 mln shares through accelerated repurchase program
Huntsman completes repurchase of 8.6 mln shares through accelerated repurchase program
Updated: 2016-01-15 10:21 Source: Market Report Company share:

Huntsman Corporation has announced that it has completed a previously announced USD100 million accelerated share repurchase program of 8.6 million shares through an accelerated repurchase program with Citibank, N.A., said the producer on its site.

In September 2015, the Huntsman Board of Directors authorized the repurchase of USD150 million of stock. The company intends to utilize the remaining USD50 million available under this authorization to purchase additional shares.

Peter R. Huntsman, President and CEO, commented: "We remain committed to improving our free cash flow generation in 2016 by USD350 million primarily through lower capital expenditures and restructuring expenses. We continue to pursue a separation of our TiO2 business through a spinoff transaction. During the period to complete the spinoff transaction we will continue to pursue other strategic options. In the meantime we are optimistic about the recent TiO2 price increase announcements. We also expect to deliver an additional USD100 million of restructuring savings in 2016. 2015 was a transition year for us and we are excited to deliver improved performance in 2016."

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