Chemical firm collapse leads to 273 job losses

MORE than 270 Teesside jobs have been lost amid the collapse of chemicals firm Venator as its Greatham site is to be sold to a Chinese company.

- TOM KEIGHLEY Business writer [e-mail]

Following the administration of its parent group last month, insolvency experts have now been appointed to Venator Materials UK Limited and its Wynyard-based headquarters, as well as its main production site at Greatham and another base at Birtley on Tyneside.

A total 273 staff have been made redundant immediately following the move. Administrators at Alvarez & Marsal, which is also handling the affairs of the global group, say they have worked with Venator's leadership team and regulators to make the Greatham site safe as it sits idle during the administration.

A sale has been agreed for the site which makes titanium dioxide (TiO₂) and performance additives used in paint, plastics, and other materials with China-based LB Group, which runs its European operation from offices in Stockton.