WYNYARD, UK, July 17, 2024 – Venator Materials plc (Venator) today announces that it has completed the sale of its 50% interest in the Louisiana Pigment Company (LPC) titanium dioxide manufacturing joint venture facility to its operating partner Kronos Worldwide, Inc.
The Venator group received $185 million in cash at completion (subject to working capital adjustments) and expects to receive an earnout payment of up to $15 million.
Simon Turner, President and Chief Executive Officer said: “We continue to successfully execute on our transformation plan and pursue all ways to strengthen our business. By focussing our financial resources and people on our core operating facilities, we can better serve our customers and deliver stronger outcomes for our shareholders. We appreciate those customers who have purchased Venator products from LPC over the years and I would like to thank the LPC team for their strong contributions. Those customers in the Americas currently served from our other plants will continue to receive our full commitment to quality products and service.”
About Venator
Venator is a global manufacturer and marketer of chemical products that comprise a broad range of pigments and additives that bring color and vibrancy to buildings, protect and extend product life, and reduce energy consumption. We market our products globally to a diversified group of industrial customers through two segments: Titanium Dioxide, which consists of our TiO2 business, and Performance Additives, which consists of our functional additives, color pigments and timber treatment businesses. Based in Wynyard, U.K., Venator employs approximately 2,700 associates and sells its products in more than 109 countries.
Monday, February 03, 2025
