Durability + Design
Follow us on Twitter Follow us on LinkedIn Like us on Facebook Follow us on Instagram Visit the TPC Store
Search the site

 

Advertisement

Durability + Design (D+D)


D+D News

Main News Page


Fire Rocks TiO2 Plant Amid Spin Off

Wednesday, February 15, 2017

More items for Coatings Technology

Comment | More

Huntsman Corp., an American-based specialty chemical manufacturer, reported a recent fire at one of its titanium dioxide manufacturing facilities in Pori, Finland, amid plans to spin off its pigments and additives business.

The Woodlands, Texas-based company said that there were no injuries in the Jan. 30 fire that rocked the plant capable of producing 130,000 tonnes per annum of TiO2—a white pigment used in paints and other applications.

Huntsman
Photos: Huntsman Corp.

News of the fire comes as the chemical manufacturer is planning a spin off of its pigments and additives business unit. CEO Peter R. Huntsman says the spin off is making significant progress.

The plant represents 15 percent of Huntsman’s total TiO2 capacity and 10 percent of total European demand.

The company did not provide damage estimates, but indicated that it plans to repair the plant “as soon as possible.”

Additional details about the fire or its cause were not available Tuesday morning (Feb. 14). However, the company says it plans to share an update during its fourth quarter 2016 earnings call Wednesday (Feb. 15).

Name of New Company

The blaze comes as Huntsman is separating from its pigments and additives business unit, which will focus on TiO2 production. In January, the company said it had decided to retain its textile effects business and exclude it from the spin off.

Venator Logo

The spin off will be called Venator Materials Corporation and will focus on pigment and additive production.

Further, Huntsman has announced the name of the new company: Venator Materials Corporation. The company will operate 27 facilities, employ approximately 4,500 associates and sell products in more than 110 countries.

Huntsman says “venator” is Latin for hunter and is intended to acknowledge Huntsman’s legacy. Shares for the new entity are expected to trade on the New York Stock Exchange after the distribution to Huntsman’s shareholders in the second quarter of 2017, the company said.

Simon Turner, who is now division president of Huntsman's pigment business, will take on the role of president and CEO of Venator, according to Huntsman.

Plan in Progress

"We are making significant progress toward the spin-off and are pleased with the Pigments and Additives business recovery,” said Peter R. Huntsman, Huntsman president and CEO.

The plan to spin off rather than sell the business was announced in July 2016, after the pigments and additives business became profitable again, following a period of poor performance.

When business was down, Huntsman attempted to distance itself from the titanium dioxide business, according to the Houston Chronicle, and even began eliminate about 900 jobs in 2015, most of them at three titanium dioxide manufacturing plants in Germany and Finland.

However, once business improved, the company determined it would be better served to spin off the unit and sell shares instead of selling it outright.

“We expect Venator will be a premier pigments company unencumbered by excessive debt or other unrelated liabilities,” Huntsman added. “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.”

Advocacy Appointment

Huntsman has also recently announced that its president has been appointed to the American Chemistry Council’s executive committee and board.

ACC President and CEO Cal Dooley noted that the industry advocacy group is “thrilled to welcome” Huntsman to the ACC.

“ACC has achieved great success and I look forward to working alongside Peter and his team as we build on our momentum in 2017 and beyond," Dooley said.

   

Tagged categories: Coating chemistry; Coatings raw materials manufacturers; Fire; Huntsman; Manufacturing Plant; Pigments; Raw materials; Titanium dioxide

Comment from Jesse Melton, (2/15/2017, 9:08 AM)

It sounds like the name of a really complicated bathroom fan.


Comment Join the Conversation:

Sign in to our community to add your comments.

Advertisements
 
Pratt & Lambert Paints
 
Trusted Performance with Proven Results
 
Pratt & Lambert’s finest, Accolade® Premium Paint & Primer, applies flawlessly with superb hide and long-lasting durability for great results, every time.
 

 
Novatek Corporation
 
Novatek Portable Air Filtration Systems
 
Air Scrubbers/Negative Air machines for restoration, abatement, dust & odor control, hazardous contaminant removal from job sites to clean rooms and hospitals. Portable, affordable!
 

 
KTA-Tator, Inc. - Corporate Office
 
KTA Inspection Services
 
Determine Specification Compliance:
• Surface Preparation
• Moisture Content
• Paint Materials & Application
• Aesthetics
Contact: Kevin Brown,
336-386-4000
 

 
Atlas Material Testing Technology
 
Helping You Put Your Products To The Test
 
  • Outdoor Accelerated Weathering
  • Laboratory Testing Services
  • Accelerated Weathering Instruments

  • www.atlas-mts.com
    atlas.info@ametek.com
 

 
PPG Paints
 
SPEEDHIDE® PRO-EV ZERO INTERIOR PAINT
 
For a dependable, VOC-free interior paint, professionals who are both performance-conscious and cost-conscious rely on PPG PAINTS™ Speedhide Pro-EV zero.
 

 
 
 

Technology Publishing Co., 2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@durabilityanddesign.com


The Technology Publishing Network

Durability + Design PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

 

© Copyright 2012-2017, Technology Publishing Co., All rights reserved