Huntsman Corporation has announced that it has decided to retain the Textile Effects business and exclude it from its planned Pigments and Additives spin-off. Strong pricing recovery for titanium dioxide and the identification of business improvement opportunities representing more than $75 million in annual EBITDA are expected to significantly enhance the financial strength of Venator's business.
The $75 million in business improvements are incremental to current earnings and are expected to be completed by the end of next year. Huntsman also announced that the name of its planned spin-off will be called Venator Materials Corporation. Venator is the Latin word for hunter and is intended to acknowledge the Huntsman legacy.