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Venator Implements $50M Cost Reduction Program, Enters Agreement To Divest Iron Oxide Business From Within Color Pigments Business

Author: Bill Haddad | January 20, 2023 07:48am

In light of these continuing challenging conditions, the Company has taken a number of recent actions, including: 1) implementing a $50 million cost reduction program, 2) closing a sale-leaseback transaction for a Color Pigments manufacturing site for $51 million, and 3) entering into a definitive agreement to divest the iron oxide business from within the Color Pigments business to Cathay Industries for an enterprise value of $140 million and which is expected to close at the end of Q1 2023.

Posted In: VNTR


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