Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Finance

Venator files for bankruptcy

by Alexander H. Tullo
May 18, 2023 | A version of this story appeared in Volume 101, Issue 16

 

Venator Materials, the struggling former titanium dioxide business of Huntsman, has filed for Chapter 11 bankruptcy. The company has already reached an agreement with creditors, who will convert Venator’s debt into equity. The company is also getting $275 million in new financing to run its business. Venator expects to complete its bankruptcy process in about 2 months. Venator had about $1 billion in debt on its balance sheet. It lost money for the past 3 years and has recently been grappling with sluggish demand and high energy costs. Venator lost $188 million on $2.2 billion in sales in 2022.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.