ICIG acquires Venator site in Germany

Subject to anti-trust approval, International Chemical Investors Group (ICIG) has acquired Venator Materials’ German subsidiary, comprising the TiO2 site in Duisburg. This is part of the ongoing restructuring process at Venator, which is going through insolvency proceedings. All of the approximately 350 employees will be retained.

ICIG said that it “brings a clear strategic vision for the site”, which specialises in functional additives and nano-fine products for industries such as plastics, paints and cosmetics. In addition to stabilising existing structures, it plans further expand production long-established brands like Sachtolith and Blanc Fixe “wherever possible”.

As part of the same restructuring process, Venator Materials agreed to sell its TiO2 site at Greatham, UK, to LB Group a Chinese manufacturer of TiO2 pigments and titanium sponge. This is one of the firm’s three sites in the UK. Unlike Duisburg, which continued to manufacture, Greatham is transitioning into an idle state until the sale is completed.