They have already said last year they are going to spin it off, but are waiting for better market conditions and plan on having it done by the end of the year. But to say they are waiting for better market conditions really makes no sense. Market conditions are worse now than when they announced it and may continue to deteriorate.
Huntsman has repeatedly spoke of unlocking shareholder value and have failed to do so. Instead of unlocking value they have piled on more debt and bought more Tio2 capacity which has hammered the stock price from 28 down to under 10. Huntsman continually talks of spinning off Tio2, waiting for better market conditions. I will be surprised if they ever pull the trigger on this.