Huntsman, a global chemical company, is contemplating the closure of a plant in Redcar due to a “hostile business environment.” Chairman and CEO Peter Huntsman said that if economic conditions remain “uncompetitive,” the company may consider relocating outside the UK. He highlighted that UK production costs for aniline, a key raw material, have surged to two to three times higher than overseas. Mr Huntsman also expressed concern over high energy prices and labour costs, saying: “The greatest workforce in the world was in the UK, but it is being squandered.”
