Wedoany.com Report-Oct. 20, Venator Materials PLC (Wynyard, U.K.) announced an agreement to sell its Greatham site and associated titanium dioxide (TiO₂) pigment assets to LB Group Co., Ltd. of Jiaozuo, China, a leading global producer of TiO₂ pigments and titanium sponge. The deal marks an important step in ongoing discussions and demonstrates LB Group’s confidence in the Greatham site’s expertise and production capabilities. Completion of the transaction is subject to regulatory approvals and customary closing conditions.

The Greatham site has been transitioning to an idle state due to market challenges affecting financial performance. Despite this, LB Group plans to restart operations, signaling its commitment to the facility and its strategic value within the TiO₂ sector.

Karen Askwith, Managing Director of Venator Materials UK Ltd, said: “Today’s announcement marks a milestone for Greatham and its future. It reflects LB Group’s confidence in the site’s expertise, operational strength and the value it brings to the TiO₂ industry. There is still important work ahead to complete the transaction. We remain fully committed to working closely with LB Group to navigate the next phase and secure a sustainable future for Greatham.”

Ms. Ran Xu, Deputy Chair of LB Group, stated: “This agreement reflects LB Group’s strategic commitment to supporting European TiO₂ customers and expanding its global footprint. The company values the technical expertise and production capabilities at Greatham and welcomes the opportunity to add new high-performance titanium dioxide products to its global portfolio, and to increase its global competitiveness.”

The acquisition is part of LB Group’s broader strategy to strengthen its presence in Europe and enhance its supply of high-performance TiO₂ products for international customers. Greatham’s experienced workforce, established infrastructure, and specialized production lines are expected to contribute significantly to LB Group’s global operations.

For Venator, the agreement provides a clear path to securing a sustainable future for Greatham while enabling a smooth transition for employees, partners, and customers. The collaboration also reflects a shared focus on maintaining operational continuity and supporting the evolving demands of the TiO₂ market.

Once operational under LB Group, the Greatham site is expected to supply high-quality TiO₂ pigments to both regional and global markets, reinforcing LB Group’s position as a leading global producer. The acquisition aligns with LB Group’s goal of expanding its portfolio, enhancing production capabilities, and meeting growing demand for advanced titanium dioxide applications across coatings, plastics, and other industrial sectors.

Overall, the transaction represents a strategic partnership between Venator and LB Group, combining technical expertise, established production facilities, and a shared commitment to delivering high-value TiO₂ products. Both companies emphasized their intent to collaborate closely through the transaction process and ensure a smooth transition for stakeholders while positioning Greatham as a key contributor to the global titanium dioxide industry.