Venator Materials Moves Titanium Dioxide Operations from Duisburg to Uerdingen, Germany

Venator Materials announced that its newly appointed board of directors and management have completed a strategic review and intend to implement a transformation plan to ensure Venator's long-term success. The plan has the support of new shareholders.

2024 Transformation Plan Highlights:

-Rationalization of 130kt of European titanium dioxide (TiO2) capacity starting with closure of TiO2 production in Duisburg, Germany

-Transfer of specialty titanium dioxide business from Duisburg to Uerdingen, Germany

-Strengthening our remaining titanium dioxide footprint through innovation and investment

-Restore profits through pricing and cost management

-Seek opportunities to monetize specific additive businesses. 

"Today, we are announcing a key step in our transformation plan. The planned cancellation of 50kt of TiO2 production capacity in Duisburg, Germany, in the second quarter of 2024, this step also includes the related transfer of our specialized production capabilities. This is to strengthen our Uerdingen facilities," said Simon Turner, Venator's President and CEO.

"The Duisburg site will continue to operate with a focus on its functional additives business. Our 80kt TiO2 plant in Scarlino, Italy, continues to be offline. Reopening is subject to pending developments with local regulations, and its product TiO2 market conditions," Turner continued.

"As we return to profitability through pricing, we will strengthen our TiO business by enhancing our products and offerings to customers. We will also pursue opportunities to monetize specific additive businesses," Turner said.

"We firmly believe that our transformation plan will better position the Venator business for the future. We look forward to announcing further measures in due course. However, we do recognize the impact today's announcement will have on our employees in Duisburg and regret it. We will treat them fairly and with respect, consistent with our values." Turner added.