ICI Pakistan and Huntsman in Textiles Pact
The Karachi-headquartered group said the agreement combines its market knowledge and strong customer and supplier relationships with Huntsman’s innovative dyes and textile auxiliaries.
The companies added that they share a common vision of a stronger textile sector in Pakistan and the collaboration “unites their resources to respond to this important market with speed and agility”.
The textiles sector is reported to account for 57% of Pakistan’s exports and 40% of its industrial workforce, but is facing rising costs and tougher global competition.
Last month, Huntsman called on the textile chemicals sector to take a unified approach to eliminating hazards and improving the industry’s economic and environmental performance.
According to Ecotextile magazine, Huntsman believes the current “scattered approach” taken by textile chemical firms is hindering progress. Speaking to Ecotextile, Patrice Carreau, chairman of Huntsman textile effects global sustainability committee, said that, in recent years, suppliers have invested heavily to develop new dyes and chemicals that reduce reliance on harmful substances.
As many textile firms fear they would lose the ability to differentiate themselves and deliver unique product properties if the sector came under the jurisdiction of a single standard set by one organisation. Carreau argued that, that the adoption of a sector-wide standard would benefit all stakeholders by freeing up resources currently wasted on conflicting efforts.