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Venator Materials

Full company profile

uuid0003bv7

Namestring
Venator Materials
Legal namestring
Venator Materials PLC
Websiteurl
venatorcorp.com
Company typeenum
Public
Founded yearint
2017
Operating statusenum
Closed
Ownership categoryenum
Headcount rangeband
1,001–5,000
akta.pro rankint
HeadquartersThe Woodlands, United States
HQ citystring
The Woodlands
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices7 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
titanium dioxide pigments, performance additives, industrial chemical manufacturing, battery materials production, color pigments for construction
Industry2 codes
1Pigments & Dyes
CodeIMAEAHAJPrimaryYes
2Polymer Additives & Modifier Manufacturing (Stabilizers, Plasticizers, Impact modifiers, Flame retardants)
CodeIMANAAAIPrimaryNo
NAICS code1 code
  • Synthetic Dye and Pigment Manufacturing32513
SIC code1 code
  • Miscellaneous Chemical Products2890
Product category
Specialty Chemicals
GTM motion3 records

Each record includes

Type, Description, Source

Revenue model2 records
1Titanium Dioxide Segment
TypeOne Time License
Description

Production and sale of TiO2 pigments for paints, coatings, plastics, cosmetics, and other industrial applications. Revenue generated from product sales across global markets through two reportable segments.

venatorcorp.com
2Performance Additives Segment
TypeOne Time License
Description

Functional additives, color pigments, and timber treatment products. Includes driers, color dosing equipment, GRANUFIN pigments for construction, and specialty chemical solutions.

venatorcorp.com
Marketing channels6 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales
Pricing details1 tier
1Titanium Dioxide and Performance Additive Products - Europe, Africa, Middle East
ModelUnit PricingBilling cadenceMulti-year contract
Notes

Mandatory price increase of €300/t for all titanium dioxide pigments and performance additive products sold in EMEA, effective February 1, 2025

venatorcorp.com
GTM typeB2B
B2B
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Brand1 of 10 records shown
1TIOXIDE
Description

Premium-performance titanium dioxide pigments brand, including new TMP-free and TME-free variants (TR81, TR85, TR88, TR92)

venatorcorp.com
+9 more records
Core offering1 text field

Venator Materials is a global manufacturer and marketer of titanium dioxide (TiO2) pigments and performance additives. The Titanium Dioxide segment produces pigments for paints, coatings, plastics, and cosmetics, while the Performance Additives segment supplies functional additives, color pigments, and timber treatment products to industrial customers across more than 109 countries.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 5 values shown
  • 12.1% reduction in scope 1 and 2 greenhouse gas emissions
+4 more records
Product overview1 text field

Venator Materials is a global manufacturer and marketer of chemical products comprising two segments: Titanium Dioxide and Performance Additives. The Titanium Dioxide segment produces TiO2 pigments under the TIOXIDE® brand (including TMP-free variants like TR81, TR85), while the Performance Additives segment includes functional additives, color pigments, and timber treatment. Venator serves diverse industrial customers across construction, automotive, cosmetics, plastics, and battery industries. Key product brands include HOMBITAN® and UV-TITAN® for cosmetics, HOMBITEC® for batteries, GRANUFIN® and GRANUMAT™ for concrete coloring, and SACHTOPERSE® and BLANC FIXE™ for battery performance. The company also offers a digital Product Carbon Footprint Tool (V-PCF) for customer sustainability reporting.

Scale indicator9 records

Each record includes

Type, Value, Description, Source

Partnership4 partners
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-03-09
Description

Indorama Corporation, headquartered in Thailand, finalized acquisition of Venator's titanium dioxide business and facility in Huelva, Spain, expanding into TiO2 production for paints, coatings, plastics, and textiles.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-10-16
Description

LB Group, through its UK subsidiary LB Titanium UK Ltd, acquired the titanium dioxide pigment manufacturing site in Greatham, Teesside from Venator Materials UK Ltd. The acquisition safeguards 132 existing jobs and creates approximately 70 additional roles, with production targeted to restart in 2026 under the Tioxide subsidiary brand.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-09-15
Description

Ege Kimya acquired Venator's driers book of business including product formulations, trademarks, and technical know-how. Venator's Birtley site continues short-term to support customer continuity.

Strategic tierMinorTypeOthers
Description

Venator joined Eurocolour, the umbrella organization for manufacturers of pigments, dyes and fillers in Europe. Venator experts serve on technical committees and contribute to legislative and regulatory discussions.

Recent move10 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeBroad incumbent
Description

BASF is a diversified chemicals incumbent with pigments, performance additives, and a wide TiO2-adjacent portfolio. BASF collaborated on the V-PCF platform methodology and competes broadly in coatings, plastics, and specialty additives markets where Venator operates.

TypeDirect peer
Description

Chemours is one of the world's largest producers of titanium dioxide pigments (Ti-Pure™), serving the same coatings, plastics, and paper customers as Venator. Both companies compete head-to-head in chloride-process TiO2 for industrial and architectural coatings.

TypeDirect peer
Description

Kronos is a major TiO2 producer focused on coatings, plastics, and paper applications, with global manufacturing assets comparable to Venator's footprint. Both companies serve overlapping TiO2 end markets and have faced the same cyclical pricing pressure.

TypeBroad incumbent
Description

Lanxess is a German specialty chemicals company with inorganic pigments, performance additives, and battery materials businesses. It overlaps with Venator in performance additives, color pigments, and serves adjacent automotive and construction end markets.

TypeDirect peer
Description

Tronox is a top-tier global TiO2 producer with vertically integrated mineral sands supply, directly competing with Venator's TIOXIDE® brand in paints, coatings, plastics, and laminates. Tronox was also Venator's counterparty in a 2022 settlement and a prior asset acquisition.

TypeDirect peer
Description

LB Group is a leading Chinese TiO2 manufacturer that acquired Venator's Greatham site in October 2025. It is now a direct competitor in European TiO2 supply, leveraging Venator's former UK capacity under the Tioxide subsidiary brand.

TypeDirect peer
Description

DCL Corporation manufactures complex inorganic and organic pigments for coatings, plastics, and construction. It directly competes with Venator's Performance Additives color pigments portfolio, including construction-related products like GRANUFIN®.

TypeDirect peer
Description

Lomon Billions is one of the largest Chinese TiO2 producers with significant global export reach, competing with Venator on coatings-grade TiO2 price and supply. Its scale and vertical integration exert significant pressure on Venator's pricing and margins.

TypeDirect peer
Description

Heubach is a global pigments manufacturer (iron oxide, chromium oxide, organic and inorganic pigments) serving coatings, plastics, and construction customers. It is a direct competitor to Venator's Performance Additives and Davis Colors™ segments.

TypeDirect peer
Description

INEOS Pigments (formerly Cristal/Tronox Australian assets) operates TiO2 production serving global coatings customers. It is a like-for-like competitor to Venator in chloride and sulfate TiO2 markets across Europe, the Americas, and Asia Pacific.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers5 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment5 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile5 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature6 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles12 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries6 records

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

Compliance5 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds2 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors1 record

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Venator Materials

Specialty Chemicalsvenatorcorp.com

Venator Materials firmographics

Firmographics
Name
Venator Materials
Legal name
Venator Materials PLC
Website
https://venatorcorp.com
Company type
Public
Founded year
2017
Operating status
Closed
Headcount range
1,001–5,000 employees
Ownership category
akta.pro rank

Venator Materials industry classification

Industry
Product category
Specialty Chemicals
NAICS
Synthetic Dye and Pigment Manufacturing (32513)
SIC
Miscellaneous Chemical Products (2890)
akta.pro primary industry
Pigments & Dyes (IMAEAHAJ)
akta.pro secondary industry
Polymer Additives & Modifier Manufacturing (Stabilizers, Plasticizers, Impact modifiers, Flame retardants) (IMANAAAI)

Keywords

  • Titanium dioxide pigments
  • Performance additives
  • Industrial chemical manufacturing
  • Battery materials production
  • Color pigments for construction

Where Venator Materials is headquartered

Location

Headquarters

HQ city
The Woodlands
HQ country
United States
HQ region
North America

Offices7 records

Markets served

Venator Materials business model

Business model
GTM type
B2B
Offering type
Hardware or Manufacturing
Cost components
Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

  1. Titanium Dioxide Segment: Production and sale of TiO2 pigments for paints, coatings, plastics, cosmetics, and other industrial applications. Revenue generated from product sales across global markets through two reportable segments.
  2. Performance Additives Segment: Functional additives, color pigments, and timber treatment products. Includes driers, color dosing equipment, GRANUFIN pigments for construction, and specialty chemical solutions.

Pricing tiers

ModelBillingPrice
Unit PricingMulti-year contractTitanium Dioxide and Performance Additive Products - Europe, Africa, Middle East

Go-to-market motion3 records

Distribution channels1 record

Marketing channels6 records

Venator Materials product offering

Product offering

Core offering

Venator Materials is a global manufacturer and marketer of titanium dioxide (TiO2) pigments and performance additives. The Titanium Dioxide segment produces pigments for paints, coatings, plastics, and cosmetics, while the Performance Additives segment supplies functional additives, color pigments, and timber treatment products to industrial customers across more than 109 countries.

Product overview

Venator Materials is a global manufacturer and marketer of chemical products comprising two segments: Titanium Dioxide and Performance Additives. The Titanium Dioxide segment produces TiO2 pigments under the TIOXIDE® brand (including TMP-free variants like TR81, TR85), while the Performance Additives segment includes functional additives, color pigments, and timber treatment. Venator serves diverse industrial customers across construction, automotive, cosmetics, plastics, and battery industries. Key product brands include HOMBITAN® and UV-TITAN® for cosmetics, HOMBITEC® for batteries, GRANUFIN® and GRANUMAT™ for concrete coloring, and SACHTOPERSE® and BLANC FIXE™ for battery performance. The company also offers a digital Product Carbon Footprint Tool (V-PCF) for customer sustainability reporting.

Differentiator

Problem solved

Functional benefit

Brands

  • TIOXIDE: Premium-performance titanium dioxide pigments brand, including new TMP-free and TME-free variants (TR81, TR85, TR88, TR92)
  • HOMBITAN
  • UV-TITAN
  • HOMBITEC
  • BLANC FIXE
  • SACHTOPERSE
  • GRANUFIN
  • GRANUMAT
  • Davis Colors
  • V-PCF

Quantifiable outcome

  • 12.1% reduction in scope 1 and 2 greenhouse gas emissions
  • +4 more outcomes

Companies that use Venator Materials

Customer profile

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Venator Materials technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature6 records

Venator Materials partnerships and signals

Strategic signal

Partnerships

Four partnerships are on record, tiered core and minor.

  • Indorama CorporationcoreStrategic or Co-development Partner · 9 March 2026Indorama Corporation, headquartered in Thailand, finalized acquisition of Venator's titanium dioxide business and facility in Huelva, Spain, expanding into TiO2 production for paints, coatings, plastics, and textiles.
  • LB GroupcoreStrategic or Co-development Partner · 16 October 2025LB Group, through its UK subsidiary LB Titanium UK Ltd, acquired the titanium dioxide pigment manufacturing site in Greatham, Teesside from Venator Materials UK Ltd. The acquisition safeguards 132 existing jobs and creates approximately 70 additional roles, with production targeted to restart in 2026 under the Tioxide subsidiary brand.
  • Ege Kimya Sanayi ve Ticaret A.Ş.coreStrategic or Co-development Partner · 15 September 2025Ege Kimya acquired Venator's driers book of business including product formulations, trademarks, and technical know-how. Venator's Birtley site continues short-term to support customer continuity.
  • EurocolourminorOthersVenator joined Eurocolour, the umbrella organization for manufacturers of pigments, dyes and fillers in Europe. Venator experts serve on technical committees and contribute to legislative and regulatory discussions.

Scale indicators9 records

Recent moves10 records

Expansion highlights5 records

Venator Materials competitors and assessment

Company assessment

Broad incumbents

  • BASF: BASF is a diversified chemicals incumbent with pigments, performance additives, and a wide TiO2-adjacent portfolio. BASF collaborated on the V-PCF platform methodology and competes broadly in coatings, plastics, and specialty additives markets where Venator operates.
  • Lanxess AG: Lanxess is a German specialty chemicals company with inorganic pigments, performance additives, and battery materials businesses. It overlaps with Venator in performance additives, color pigments, and serves adjacent automotive and construction end markets.

Direct peers

  • The Chemours Company: Chemours is one of the world's largest producers of titanium dioxide pigments (Ti-Pure™), serving the same coatings, plastics, and paper customers as Venator. Both companies compete head-to-head in chloride-process TiO2 for industrial and architectural coatings.
  • Kronos Worldwide: Kronos is a major TiO2 producer focused on coatings, plastics, and paper applications, with global manufacturing assets comparable to Venator's footprint. Both companies serve overlapping TiO2 end markets and have faced the same cyclical pricing pressure.
  • Tronox Holdings: Tronox is a top-tier global TiO2 producer with vertically integrated mineral sands supply, directly competing with Venator's TIOXIDE® brand in paints, coatings, plastics, and laminates. Tronox was also Venator's counterparty in a 2022 settlement and a prior asset acquisition.
  • LB Group: LB Group is a leading Chinese TiO2 manufacturer that acquired Venator's Greatham site in October 2025. It is now a direct competitor in European TiO2 supply, leveraging Venator's former UK capacity under the Tioxide subsidiary brand.
  • DCL Corporation (Dominion Colour): DCL Corporation manufactures complex inorganic and organic pigments for coatings, plastics, and construction. It directly competes with Venator's Performance Additives color pigments portfolio, including construction-related products like GRANUFIN®.
  • Lomon Billions Group (CNNC Hua Yuan): Lomon Billions is one of the largest Chinese TiO2 producers with significant global export reach, competing with Venator on coatings-grade TiO2 price and supply. Its scale and vertical integration exert significant pressure on Venator's pricing and margins.
  • Heubach Group: Heubach is a global pigments manufacturer (iron oxide, chromium oxide, organic and inorganic pigments) serving coatings, plastics, and construction customers. It is a direct competitor to Venator's Performance Additives and Davis Colors™ segments.
  • INEOS Pigments: INEOS Pigments (formerly Cristal/Tronox Australian assets) operates TiO2 production serving global coatings customers. It is a like-for-like competitor to Venator in chloride and sulfate TiO2 markets across Europe, the Americas, and Asia Pacific.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Venator Materials social profiles

Digital presence

Venator Materials compliance and trust

Trust signal

Compliance5 records

Venator Materials financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Venator Materials leadership team

Management profile

Number of profiles

Profiles12 records

Venator Materials subsidiaries and ownership

Company hierarchy

Subsidiaries6 records

Venator Materials funding detail

Funding detail

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Venator Materials M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Venator Materials

What does Venator Materials do?

Venator Materials is a global manufacturer and marketer of titanium dioxide (TiO2) pigments and performance additives. The Titanium Dioxide segment produces pigments for paints, coatings, plastics, and cosmetics, while the Performance Additives segment supplies functional additives, color pigments, and timber treatment products to industrial customers across more than 109 countries.

Is Venator Materials a public or private company?

Venator Materials is a public company. It is classified as public and is currently closed.

When was Venator Materials founded?

Venator Materials was founded in 2017. It employs 1,001 to 5,000 people.

Where is Venator Materials based?

Venator Materials is headquartered in The Woodlands, United States, in the North America region.

How does Venator Materials make money?

Two revenue lines are on record. Titanium Dioxide Segment is the primary driver. The others are performance Additives Segment.

Who are Venator Materials's main competitors?

Broad incumbents on record are BASF and Lanxess AG. Direct peers are The Chemours Company, Kronos Worldwide, Tronox Holdings, LB Group, DCL Corporation (Dominion Colour), Lomon Billions Group (CNNC Hua Yuan), Heubach Group and INEOS Pigments.

Does Venator Materials have an API?

No public API is recorded for Venator Materials.

What industry is Venator Materials in?

Venator Materials's product category is Specialty Chemicals. Its primary akta.pro industry code is IMAEAHAJ, Pigments & Dyes, with a secondary code of IMANAAAI, Polymer Additives & Modifier Manufacturing (Stabilizers, Plasticizers, Impact modifiers, Flame retardants). Its NAICS code is 32513 and its SIC code is 2890.

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Live signals
EIN PresswireTioxide Restarts TiO2 Plant in UK - Heralding New Era for Pigment Production at Historic Greatham SiteTioxide restarted its TiO2 pigment plant at Greatham, UK, after four months of commissioning, with single-stream operation and TIOXIDE and DELTIO products returning to market. The facility has a 150,000-tonne annual capacity, and a phased ramp-up aims to reach full operational capacity by early 2027.InsidermediaLB Group snaps up former Venator Materials site in Teesside - operations set to restart at the facility this yearLB Group, through its UK subsidiary LB Titanium UK Ltd, has acquired the titanium dioxide pigment manufacturing site in Greatham, Teesside, from Venator Materials UK Ltd, which entered administration in October 2025 following sustained financial pressures. The acquisition safeguards 132 existing jobs and is expected to create approximately 70 additional roles across site operations, engineering, and support functions, with production targeted to restart in 2026. The newly established Tioxide subsidiary will continue producing premium-performance TiO2 pigments under the TIOXIDE and DELTIO brands.BdailyTeesside plant deal safeguards jobsLB Group completed the purchase of the titanium dioxide pigment plant at Greatham from Venator Materials UK, which had entered administration in October 2025. The deal safeguards 132 jobs and creates about 70 new roles, with production restarting in 2026. A new subsidiary, Tioxide, will operate the site.FortunebusinessinsightsAluminum Sulfate Market Size, Share & Industry Analysis, By End-use Industry (Water & Wastewater Treatment, Pulp & Paper, Construction, Textiles & Leather, and Others) and Regional Forecast, 2026-2034The global aluminum sulfate market is valued at USD 2.12 billion in 2025 and is projected to reach USD 3.14 billion by 2034, growing at a compound annual growth rate of 4.5% during the 2026–2034 period, with Asia Pacific accounting for the dominant market share of 36.79%. The market is driven primarily by global expansion and modernization of water and wastewater treatment infrastructure, particularly in emerging economies experiencing rapid urbanization and stricter water quality regulations. Key industry developments include Chemtrade's USD 30 million acquisition of Thatcher Group's aluminum sulfate businesses in May 2025, and consolidation among major players such as USALCO's merger with G2O Technologies and Feralco's acquisition of Venator Materials' Wasserchemie business.Business LiveFormer chemicals site hits the market following occupier's collapseA 16.47-acre former chemicals site on Mary Avenue in Birtley, County Durham, is being marketed for sale by Savills following the collapse of Venator Materials UK into administration in October, which resulted in over 500 job losses. The site includes more than 203,000 sqft of buildings and is being positioned for potential redevelopment as industrial, logistics, manufacturing, or residential use, with Gateshead Council's Local Plan supporting regeneration objectives. While Venator's manufacturing site in Greatham was sold to Chinese firm LB Group, the Birtley site and Wynyard head office were not continued, and adjacent housing developments by Gleeson Homes and Gateshead Regeneration Partnerships are also in the planning pipeline.Grand View ResearchFerrous Sulfate Market Size And Share Report, 2026-2033Grand View Research published a market report estimating the global ferrous sulfate market at USD 2.4 billion in 2025, projected to reach USD 3.3 billion by 2033 with a 4.0% CAGR, driven by demand in water treatment and agricultural micronutrient applications. Asia Pacific accounted for the largest regional share at 42.5% in 2025, with China dominating the regional market due to its large-scale chemical manufacturing base and strong fertilizer consumption. The market is characterized by moderate concentration with major producers like Venator Materials PLC and KRONOS Worldwide operating alongside regional manufacturers, while recent developments include new product launches and production capacity additions by Agrigem and Russian Vitriol Company.GlobeNewswire[Latest] Global Iron Oxide Pigments Market Size/Share Worth USD 5.02 Billion by 2035 at a 5.12% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, GrowthThe article reports on the market size and growth forecast for the global Iron Oxide Pigments market, which is expected to reach USD 5.02 billion by 2035 at a CAGR of 5.12%. The market's growth is driven by infrastructure development, demand for non-toxic and sustainable pigments, and innovations in micronized forms, with key players including LANXESS AG, BASF SE, and Venator Materials PLC.European-coatingsTop 10 reports of the year: that’s what the coatings industry is interested inThe article presents a summary of the top ten news stories in the coatings industry for 2025, highlighting key trends such as market consolidation, technological innovation, and sustainability. Specific events mentioned include Synthomer opening an innovation centre in Shanghai and BASF considering the sale of its Coatings division. The report also notes industrial challenges, such as Venator filing for insolvency at its Duisburg plant.BdailyProcess sector firm agrees Venator site dealBillions Europe has agreed to acquire the Greatham site near Hartlepool from Venator Materials UK in a deal described as a milestone for both parties. The transaction, subject to regulatory approvals and closing conditions, will allow Billions' subsidiary LB Group to expand titanium dioxide and pigment production at the site. The acquisition is intended to revive the facility, which had been transitioning to an idle state due to challenging market conditions.PrintweekJobs go as pigment maker falls into administrationJoint administrators from Alvarez & Marsal were appointed to Venator Materials UK on 22 October, immediately making 273 employees redundant while retaining 232 workers across three North East sites. The specialty chemicals and printing ink pigments manufacturer attributed the administration to a prolonged downturn in the TiO₂ industry and reported 2023 sales down 22% at £291.3m with an operating loss of £39m. A deal to sell the Greatham plant near Middlesbrough to Chinese firm LB Group had been agreed on 16 October prior to the administration appointment.