Huntsman To Exclude Textile Effects Business From Spin-off - Quick Facts

(RTTNews) - Huntsman Corp. (HUN) announced it has decided to retain the Textile Effects business and exclude it from the planned Pigments and Additives spin-off. Huntsman also announced that the name of its planned spin-off will be Venator Materials Corporation. Venator shares are expected to trade on the NYSE under the ticker VNTR after the distribution to Huntsman's shareholders, which remains targeted for the second quarter of 2017.

Huntsman said strong pricing recovery for titanium dioxide and the identification of business improvement opportunities representing more than $75 million in annual EBITDA are expected to significantly enhance the financial strength of Venator's business. The $75 million in business improvements are incremental to current earnings and are expected to be completed by the end of 2018.