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MOSCOW (MRC) -- Venator Materials
PLC announced that Louisiana Pigment Company, L.P. ("LPC"), its joint
venture titanium dioxide production facility located in Lake Charles, Louisiana,
has resumed production in increasing phases following the end of supplier
outages caused by Hurricane Laura, which had led the facility to temporarily
cease production, said Chemweek.
Physical
damage to the site was minor, and the site is expected to be fully operational
on or about October 1. Venator expects the EBITDA impact of the outage to
be up to USD10 million in the third quarter. Simon Turner, President and CEO of
Venator, stated, "I am pleased with the rapid response by the management team
and associates at the LPC facility to safely resume production as soon as energy
and raw material supply were restored."
In a further update,
he also commented, "We are continuing to cooperate in the preparation of
regulatory filings required for SK Capital to acquire Huntsman's equity stake in
Venator. The transaction by which SK Capital will acquire Huntsman's stake
in Venator received prior approval by the nonconflicted independent members of
our board, and we look forward to the expected closing of that transaction near
year end."
As MRC informed earlier,
Russia's output of products from polymers grew in August 2020 by 4.1% year on
year. However, this figure increased by 1.9% year on year in the first eight
months of 2020. According to the Russian Federal State Statistics Service,
August production of unreinforced and non-combined films rose to 126,300 tonnes
from 118,200 tonnes a month earlier. Output of films products grew in
January-August 2020 by 8.3% year on year to 863,200 tonnes.
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 24 facilities, employ
approximately 4,000 associates worldwide and sell our products in more than 110
countries. |
