Venator Materials UK Ltd has signed an agreement to sell its Greatham, UK site and associated titanium dioxide (TiO₂) pigment assets to LB Group Co., Ltd. (LB Group) of Jiaozuo, China, a manufacturer of TiO₂ pigments and titanium sponge.
Venator
The Asset Purchase Agreement marks a step forward in ongoing discussions and highlights LB Group’s confidence in the Greatham site’s expertise, capabilities and products. Completion of the transaction remains subject to regulatory approvals and several customary closing conditions.
The Greatham site is transitioning into an idle state due to challenging market conditions that have impacted financial performance. Despite this, LB Group remains committed to acquiring the site with the intention of restarting operations in the future.
Karen Askwith, Managing Director of Venator Materials UK Ltd, commented: “Today’s announcement marks a milestone for Greatham and its future. It reflects LB Group’s confidence in the site’s expertise, operational strength and the value it brings to the TiO₂industry. There is still important work ahead to complete the transaction. We remain fully committed to working closely with LB Group to navigate the next phase and secure a sustainable future for Greatham.”
Ms. Ran Xu, Deputy Chair of LB Group, commented: “This agreement reflects LB Group’s strategic commitment to supporting European TiO₂ customers and expanding its global footprint. The company values the technical expertise and production capabilities at Greatham and welcomes the opportunity to add new high-performance titanium dioxide products to its global portfolio, and to increase its global competitiveness."