Industry News

Venator Materials, New Name for Huntsman’s Pigments & Additives Spin-off

Published on 2017-01-18. Author : SpecialChem

THE WOODLANDS, Texas -- Huntsman has announced that the name of its Pigments and Additives spin-off will be Venator Materials Corporation. Venator is the Latin word for hunter and is intended, in part, to acknowledge the Huntsman legacy. Venator shares are expected to trade on the New York Stock Exchange under the ticker VNTR after the distribution to Huntsman's shareholders, which remains targeted for the second quarter of 2017.

Venator - Latin Word for Hunter

Venator Logo

Peter R. Huntsman, Huntsman Corporation President and CEO, commented:

"We are making significant progress toward the spin-off and are pleased with the Pigments and Additives business recovery. We expect Venator will be a premier pigments company unencumbered by excessive debt or other unrelated liabilities. Improved titanium dioxide pricing combined with the identification of business improvement opportunities that are incremental to current earnings are expected to more than offset the free cash flow that Venator would have received from the Textile Effects business."

"In addition to the progress we are making on the spin of our Pigments and Additives business, we continue to improve our free cash flow generation and grow our downstream differentiated businesses. During 2016, we also repaid approximately $550 million of debt and significantly strengthened our balance sheet."

About Huntsman

Huntsman Corporation is one of the publicly traded global manufacturers and marketers of differentiated chemicals with 2015 revenues of more than USD 10 billion. Its chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. It operates more than 100 manufacturing and R&D facilities in approximately 30 countries and employs approximately 15,000 associates within its 5 distinct business divisions including the Pigments and Additives division that it intends to spin-off as Venator Materials Corporation.

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Source: Huntsman
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