VNTR - Venator plunges after warning of TiO2 sales weakness

Venator Materials ( NYSE: VNTR ) -8.1% pre-market Thursday after saying it suffered a " meaningful decline " in sales volume for its TiO2 products in the European and Asian regions in Q3.

The chemical products maker said it expects to report a ~25% decline in Q3 titanium dioxide sales volumes compared with Q2.

Citing "limited outlook visibility and persistently high European energy costs," the company said it has reduced production at its Uerdingen, Germany facility to "minimal levels" and is reducing production at its Duisburg, Germany facility, as well as implementing other unspecified cost cuts across its business.

Venator's ( VNTR ) warning comes soon after Tronox ( TROX ) also warned of weak TiO2 sales and Chemours ( CC ) cited declining demand in its Titanium Technologies business for cutting full-year EBITDA guidance .

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