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. 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 $10 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.”
Source: Venator Materials
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