Process sector firm agrees Venator site deal

An industrial site is set to change hands.

Billions Europe has agreed a deal to buy Venator Materials UK’s Greatham site.

Bosses say the “milestone” agreement will allow Billions’ subsidiary LB Group to boost production of titanium dioxide and pigments.

They add the deal – which remains subject to regulatory approvals and closing conditions – will revive the site, based near Hartlepool, which “had been transitioning to an idle state due to challenging market conditions”.

Billions Europe was advised by Newcastle, Darlington and Leeds-based Square One Law.

John Hammill, Square One Law corporate partner, said: “We were pleased to advise Billions Europe on this important transaction and to support the business in achieving a successful outcome for all parties involved.

“Hopefully, this acquisition will be the beginning of a profitable and fruitful future for the Greatham facility.”

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