UK Venator to close $140m sale of iron oxides unit on 31 March
Al Greenwood
18-Nov-2022
HOUSTON (ICIS)–Venator Materials expects to close on the $140m sale of its iron oxides business to Cathay Pigments on 31 March 2023, the UK-based pigments producer said on Friday.
The deal includes eight manufacturing plants and one administrative site across six countries on four continents, Cathay said.
“The acquisition of Venator’s iron oxide pigment operation transforms our global manufacturing footprint, providing tremendous synergies and new growth opportunities,” said Terence Yu, Cathay Industries Group CEO.
Venator’s iron oxide business was within its Performance Additives segment, which produced the other following materials.
- Complex inorganic coloured pigments
- Metal carboxylate driers
- Ultra marine blue
- Barium sulphate
- Zinc sulphide
- Timber treatment products
Venator’s other business segment produces titanium dioxide (TiO2).
Thumbnail shows paint, which is an important end use for iron oxide. Image by imageBROKER/Shutterstock
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