During its Q2 results presentation, Chemours announced a decision to close its Kuan Yin TiO2 manufacturing facility in Taiwan (pictured). The firm described this as “part of a comprehensive strategy to improve the earnings quality of TT – producers of the popular Ti-Pure brand – by optimising its manufacturing circuit”.
The US Bankruptcy Court for the Southern District of Texas has confirmed Venator Materials’ Plan of Reorganisation, ten weeks after the company filed for Chapter 11. Under this, it will complete a comprehensive restructuring that will see nearly all of its funded debt converted to equity while leaving trade obligations unimpaired.
Venator Materials has announced that it has reached an agreement with “the overwhelming majority of its lenders and noteholders” on a recapitalisation plan. This will take the form of a prepackaged Chapter 11 process in the US, financed by a debtor-in-possession facility from its supporting creditors to provide liquidity throughout the process.
Czech Republic-based J&T MS 1 SICAV has sent a public letter to the board of TiO2 producer Venator Materials highly critical of the firm’s strategic direction and demanding additional independent shareholder representation. J&T is the second largest shareholder in Venator, with a stake of 14.3%.
Since an IPO in August 2017, the letter states, Venator’s share price has fallen by about 96% from a peak of $25.50 to less than $1. In November 2022, the company was warned that it faces a potential delisting from the New York Stock Exchange.
Bryan Moran, global skin care technical manager at Lubrizol Life Science Beauty, discusses how formulators can address a key trend in sun care
In the 1970s and 1980s, no lifeguard would hit the beach without a thick white coating of zinc oxide sunblock on their nose. It was effective but also unattractive and uncomfortable.
TiO2 producer Tronox is facing a Phase 2 investigation from the UK’s Competition and Markets Authority (CMA) into its proposed acquisition of the TiZir titanium and iron business from French mining and metallurgy group Eramet. The company said that it may offer unspecified ‘remedies’ before this goes ahead.
New York-based SK Capital Partners has acquired most of Huntsman’s stake in TiO2 pigments and performance additives producer Venator Materials, which Huntsman span off in 2017. In all, it has bought a 40% stake or 42.5 million shares for about $100 million, including a 30-month option to buy the remaining 9.5 million at $2.15/share.