Venator to Close Two Manufacturing Sites as part of $90 million Business Improvement Plan
WYNYARD, UK, Sept. 18, 2017 /PRNewswire/ -- Venator Materials PLC (NYSE: VNTR) announced today that it intends to close its Easton (PA) and St Louis (MO) color pigments manufacturing sites by the end of 2017.
Jan Buberl, Vice President of Color Pigments for Venator, said: "We have been working hard to improve the efficiency of our manufacturing network and we have successfully ramped up production at our Augusta (GA) site. Our plan ensures that the products made in these facilities will continue to be available to our valued customers and that our associates are treated fairly and with respect."
Simon Turner, President and CEO of Venator, said: "We continue to drive improvement in our Performance Additives segment and this latest milestone forms part of the $90 million business improvement plan that will be completed by the end of 2018."
About Venator
Venator is a global manufacturer and marketer of chemical products that comprise a broad range of pigments and additives that bring color and vibrancy to buildings, protect and extend product life, and reduce energy consumption. We market our products globally to a diversified group of industrial customers through two segments: Titanium Dioxide, which consists of our TiO2 business, and Performance Additives, which consists of our functional additives, color pigments, timber treatment and water treatment businesses. We operate 27 facilities, employ approximately 4,500 associates worldwide and sell our products in more than 110 countries.
Important Information
A registration statement relating to these securities has been filed with the Securities and Exchange Commission ("SEC") and has been declared effective. A copy of the prospectus may be obtained free of charge at the SEC's website at www.sec.gov under "Venator Materials PLC." This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Venator's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Venator's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Venator does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Venator to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with Venator's initial public offering. The risk factors and other factors noted in Venator's prospectus could cause actual results to differ materially from those contained in any forward-looking statement.
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SOURCE Venator Materials PLC
