Wedoany.com News, Recently, the International Chemical Investors Group (ICIG) of Luxembourg announced that it has agreed to acquire the bankrupt Venator Germany GmbH. The operations at the latter's production site in Duisburg, Germany, remain unaffected, and all 350 employees will be retained.
The transaction was reached with the court-appointed insolvency administrator. Specific financial terms were not disclosed, and completion is expected in February this year. The Duisburg site primarily produces specialty additives and fine chemicals for use in coatings, cosmetics, and other fields.
In 2024, its former parent company, Venator Materials PLC, had shut down the titanium dioxide production at this site, transferring related operations to other plants.
The International Chemical Investors Group stated that it has a clear strategic plan for the site, aiming to drive its further development and return to its "historical roots." Group CEO Christoph Sprenger said they are committed to improving production using existing brands and expanding business where possible.
