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On November 2, 2022, Venator Materials PLC (NYSE: VNTR) received a notice from the NYSE indicating non-compliance with the continued listing standards due to its average share price falling below $1.00 over 30 trading days. Although this does not lead to immediate delisting, Venator intends to address this deficiency by notifying the NYSE by November 16, 2022, and may consider options like a reverse stock split, pending shareholder approval. Venator shares will remain listed provided other compliance standards are met.
Venator is showcasing its pigment dosing machines at Bauma in Munich from October 24-30, 2022. The company will present its GRANUMAT™ range, including the GRANUMAT™ Microsmarty, which streamlines the colored concrete production process. Venator's CHAMELEON™ color dosing equipment enhances efficiency in ready-mix concrete production. The company also features its HYDROTINT™ and FERROXIDE® pigments. Committed to sustainability, Venator emphasizes its eco-friendly practices as outlined in its latest sustainability report.
Venator Materials PLC (NYSE: VNTR) announced the completion of a sale-leaseback transaction for its Color Pigments manufacturing facility in Los Angeles, California, generating $51.3 million in proceeds. The company will lease the facility for an initial 15-year term at an annual cost of $3.4 million, with options for two additional 10-year extensions. CEO Simon Turner highlighted this move as a strategic decision to enhance liquidity and capitalize on a strong real estate market.
Venator Materials is set to showcase its extensive range of solar reflective pigments at K2022 in Dusseldorf from October 19-26, 2022. The company highlights its innovative ALTIRIS® pigments, designed to enhance the durability of plastics exposed to sunlight, alongside other pigments like COLOURPLEX® and REFLECT™. The presentation comes as a response to record-breaking temperatures in Europe, emphasizing the need for sustainable solutions in the plastics industry. Venator aims to assist customers in addressing sustainability challenges while maintaining product performance.
Venator Materials PLC (NYSE: VNTR) announced a significant decline in TiO2 sales volumes, dropping approximately 25% in Q3 compared to Q2, primarily affecting European and Asian markets. High energy costs have prompted production cuts at its Uerdingen and Duisburg facilities in Germany. Despite the downturn in TiO2 sales, the Performance Additives segment remains resilient. The company plans to discuss its Q3 financial results on November 14, 2022, indicating ongoing challenges affecting overall profitability.
Venator has achieved ECO PASSPORT certification by OEKO-TEX for its HOMBITAN® LW-S 100 delustering pigment, becoming the first titanium dioxide producer to do so in the textile sector. This certification confirms that the product is made following environmentally friendly practices and is suitable for applications in direct skin contact, including personal hygiene items and sports apparel. The certification process involved rigorous testing to ensure compliance with strict safety and environmental standards.
Venator Materials PLC (NYSE: VNTR) announced on August 9, 2022, that Kathy Patrick has resigned from its Board of Directors due to other professional commitments. She has served since the company's IPO in 2017. Miguel Kohlmann has been appointed as a new independent director, bringing substantial industry experience, including his previous role as CEO and service on various boards. Kohlmann will also join the Audit and Compensation Committees. The company aims to leverage Kohlmann's expertise for strategic enhancement.
Venator Materials PLC (NYSE: VNTR) reported strong second quarter 2022 results, achieving $642 million in revenues, an increase of 13% year-over-year. The company posted a net income of $93 million, a substantial turnaround from a net loss of $23 million in the same period last year. Adjusted EBITDA rose to $61 million, up 42% compared to Q2 2021. The Titanium Dioxide segment generated $486 million in revenues, with a 36% increase in adjusted EBITDA, driven by price hikes to offset rising costs. Despite ongoing supply chain challenges, liquidity improved with $341 million available.
Venator Materials PLC (NYSE: VNTR) will hold a conference call on July 26, 2022, at 08:00 a.m. ET to discuss its second quarter 2022 financial results. The results will be released before the market opens that day via PR Newswire. U.S. participants can call 1-833-366-1118 while international participants can dial 1-412-902-6770. A replay of the call will be available from July 26 to August 3, 2022. Venator is known for its broad range of chemical products, specifically in Titanium Dioxide and Performance Additives.
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