Venator Materials Issues Business Update - Quick Facts

(RTTNews) - Venator Materials PLC (VNTR) said the company expects to report third quarter TiO2 sales volumes to be approximately 25% lower than in the second quarter. During the third quarter, the company recorded a meaningful decline in sales volume for TiO2 products in the European and Asian regions.

"With limited outlook visibility and persistently high European energy costs, we have reduced production at our Uerdingen, Germany, facility to minimal levels and are reducing production at our Duisburg facility in Germany as well. We are also implementing other cost mitigation actions across the business," Simon Turner, CEO of Venator, said.

The company noted that the demand for products from Performance Additives businesses has been more resilient and the segment continues to perform reasonably well.