Venator looks for buyers

TiO2 producer Venator has appointed Alvarez & Marsal as administrators for its three non-trading businesses in the UK. They will seek to sell the businesses operating from sites at Greatham, Wynyard and Birtley, while sale processes will be initiated for other group entities. Trading subsidiaries in the UK, the US and France are carrying on as normal.

“Venator Group has been severely impacted by increased competition and rising costs in recent months. The appointment of administrators now provides a platform for restructuring,” commented Mark Firmin, joint administrator and managing director at Alvarez & Marsal.

Venator is active through two segments: Titanium Dioxide and Performance Additives, the latter of which offers functional additives, colour pigments and timber treatment products. It employs 519 people in the UK among 2,249 in total and is also active in Spain, France, the US, Malaysia and Germany, among others.