Transformation and upgrading: Venator announced its continued shutdown and optimization of European titanium dioxide production capacity

In early February, Venator's new board of directors and management announced a transformative business plan after the company's bankruptcy and reorganization-to continue to shut down the titanium dioxide factory in Duisburg, Germany (50,000 tons/a) after shutting down the 80,000 tons/a production capacity in Scarlino, Italy, and rationally adjust the remaining 130,000 tons of titanium dioxide production capacity in Europe.

Simon Turner, President and CEO, said that the demolition of the titanium dioxide production line in Duisburg will be completed in the second quarter, focusing on operations of other additives businesses, while the specialty titanium dioxide business will be transferred to Jurdingen, Germany.

In November 2022, Panenergy sold its iron oxide pigment business to Cathay Industrial; in May 2023, Panenergy filed for bankruptcy protection and completed its reorganization in October of that year. According to this announcement, Panenergy is likely to continue to shut down production capacity with poor operating performance and at the same time develop other potential chemicals to transform and upgrade the product structure.