Venator agrees to sell Greatham TiO2 site to LB Group, aiming to revive operations and expand global titanium dioxide portfolio.
Venator Materials UK Ltd has formally entered into an agreement to sell its Greatham site in the United Kingdom, along with the associated titanium dioxide (TiO2) pigment assets, to LB Group Co., Ltd., headquartered in Jiaozuo, China. LB Group is a prominent global manufacturer of TiO2 pigments and titanium sponge, with a reputation for technical excellence and market leadership in the titanium industry.
The signing of the Asset Purchase Agreement represents a significant milestone in ongoing discussions between the two companies and underscores LB Group’s confidence in the Greatham site’s capabilities, technical expertise, and the quality of its products. While the agreement demonstrates strong mutual commitment, the completion of the transaction remains subject to receiving the necessary regulatory approvals and satisfying a number of customary closing conditions.
Currently, the Greatham site has been entering a transitional phase and moving toward an idle state. This decision has been driven by challenging market conditions that have negatively impacted the site’s financial performance over recent periods. Despite these operational challenges, LB Group has expressed its clear intention to acquire the site, with a long-term plan to potentially restart operations and reinvigorate production at Greatham once market conditions are more favorable.
Commenting on the development, Karen Askwith, Managing Director of Venator Materials UK Ltd, stated, “Today’s announcement represents an important milestone for the Greatham site and its workforce. The agreement highlights LB Group’s trust in the site’s operational capabilities, technical expertise, and the value it contributes to the titanium dioxide industry. While there remains important work to complete the transaction, we are committed to collaborating closely with LB Group to ensure a smooth transition and to secure a sustainable future for the site and its employees.”
Ms. Ran Xu, Deputy Chair of LB Group, added, “This agreement underscores LB Group’s strategic commitment to supporting our European TiO2 customers and broadening our international presence. We greatly value the technical knowledge and production capabilities at Greatham. This acquisition will allow us to expand our portfolio of high-performance titanium dioxide products, strengthen our competitive position globally, and enhance our ability to serve customers across multiple regions with world-class products and services.”
The agreement signals a new chapter for Greatham and its stakeholders, combining Venator’s legacy and expertise with LB Group’s global ambitions in the titanium dioxide sector. As both companies work toward completion, the transaction is expected to contribute to the long-term growth and sustainability of TiO2 production in Europe, benefiting customers, employees, and the broader industry.
