Venator Materials implements $50M cost reduction program

The Company has taken a number of recent actions, including: implementing a $50M cost reduction program, closing a sale-leaseback transaction for a Color Pigments manufacturing site for $51M, and entering into a definitive agreement to divest the iron oxide business from within the Color Pigments business to Cathay Industries for an enterprise value of $140M and which is expected to close at the end of Q1 2023.