Panento sells 50% stake to Connors
Release time:
2024-07-29
The United Kingdom's Pan Energy Extension Venator Materialsplc (Venator) recently announced that it has completed the sale of its 50% interest in the Louisiana Pigment Company (LPC) titanium dioxide manufacturing joint venture plant to its operating partner Kronos (Kronos Worldwide, Inc.). Venator Group received $0.185 billion in cash (subject to operating capital adjustment) upon completion of the transaction and expects to receive a profit payment of up to $15 million. President and CEO Simon Turner said: "We continue to successfully execute our transformation plan and take every step of the way to strengthen the business. By focusing our financial resources and personnel on our core operating facilities, we can better serve our customers and deliver better results for our shareholders. We are grateful to our customers who have purchased Venator products from LPC over the years and I would like to thank the LPC team for their excellent contribution. Customers in the Americas currently served by our other facilities will continue to receive our full commitment to quality products and services."
The United Kingdom's Pan Energy Extension Venator Materialsplc (Venator) recently announced that it has completed the sale of its 50% interest in the Louisiana Pigment Company (LPC) titanium dioxide manufacturing joint venture plant to its operating partner Kronos (Kronos Worldwide, Inc.).
Venator Group received $0.185 billion in cash (subject to operating capital adjustment) upon completion of the transaction and expects to receive a profit payment of up to $15 million. President and CEO Simon Turner said:
"We continue to successfully execute our transformation plan and take every step of the way to strengthen the business. By focusing our financial resources and personnel on our core operating facilities, we can better serve our customers and deliver better results for our shareholders. We are grateful to our customers who have purchased Venator products from LPC over the years and I would like to thank the LPC team for their excellent contribution. Customers in the Americas currently served by our other facilities will continue to receive our full commitment to quality products and services."
Key words:
Titanium dioxide-rutile | titanium dioxide-anatase | environmental protection-flame retardant | quality-filler
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