Subject to developing market conditions, one of our most valued clients, Huntsman Corporation, intends to spin-off its pigment and additives business during 2017.
Huntsman has predicted that its new business, which will be known as Venator Materials Corporation, will be a leading global manufacturer and marketer of chemical products.
In support of Huntsman, RPS will remain an important and valuable pallet and FIBC recovery provider for the firm. We will continue to offer the best services to reduce Huntsman’s environmental impact on transit packaging and focus on a safe and reliable service for the Company.
Venator will be committed to continuing the creation of value for its customers and stakeholders by focusing on its competitive strengths, such as broadening manufacturing networks to enhance relationships with global customers.
Aiming to improve the quality of life of consumers everywhere, the new business will operate 27 manufacturing facilities with more than 4,500 associates, and expects to generate revenues of over $2 billion.
By establishing a new subsidiary, Huntsman will generate numerous opportunities for both investors and stakeholders, from providing its investors with a unique and high quality investment opportunity to giving Venator direct access to capital markets and the flexibility to pursue strategic alternatives for its business.
Venator’s products will include a broad range of pigments and additives that add colour and vibrancy whilst protecting and extending product life, as well as reducing energy consumption. Its key product lines will include titanium dioxide pigments, colour pigments, functional additives, timber treatment and water treatment products.
We wish Huntsman the best of luck with its new venture, Venator and we’re looking forward to seeing the businesses develop.
