Huntsman said it was making more money from its titanium dioxide pigments business even though volume was down in the third quarter. Pigment sales volumes slipped 8% in the three months to the end of September primarily due to lower finished goods inventory available for sale and lower global demand. Nevertheless, earnings before interest, tax, depreciation and amortisation more than doubled at Huntsman's pigments division in the three months to the end of September raising EBITDA to $161 million compared to $66 million in the third quarter of 2010. At the same time, revenue climbed 39% to $455 million.
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