UK titanium dioxide manufacturer Venator (Stockton-on-Tees; www.venatorcorp.com) is still headed downhill after reporting further declines in sales volumes ahead of the official presentation of the figures for Q4 2022.

Compared to the previous quarter, volume sales fell 28%, and they plunged 44% on the year.

CEO Simon Turner said developments have also hit EBITDA, which is expected to range from negative EUR 57 mn to negative EUR 62 mn. Turner blamed the forecast performance on low consumer confidence and the associated weak demand and high costs for energy in Europe.

Related: EU general court overturns ECHA’s classification of TIO2 as a carcinogen

As a consequence, Venator has engaged two more consulting firms for its ongoing strategy review. Turner has been pursuing a rigid cost-cutting programme since mid-2022, a plan that includes the separation from the iron oxide activities and the sale and lease-back deal for a US colour pigments plant in Los Angeles (see Plasteurope.com of 02.12.2022).

At the same time, the former Huntsman company is in discussions with key investors about its capital structure.