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On October 16, Longbai Group announced that it had signed an asset acquisition agreement with Venator UK to acquire Venator’s titanium dioxide production facility in Graysham, UK, as well as related titanium dioxide assets. According to a statement released by Longbai Group on the same day, its subsidiary BAILIAN Europe signed an asset acquisition agreement with Panengtu on October 15, with the transaction value amounting to $69.9 million. The announcement states that as of August 31, 2025, the book original value of the underlying assets was approximately $534 million; depreciation or provisions amounting to around $339 million had been recorded, leaving a book net value of approximately $195 million. Currently, the underlying asset is gradually coming to a halt in production. It is reported that Paneng Tuotong, Chemours, Tronox, and Kronos are the four major titanium dioxide producers in Europe and the United States, and they all possess both sulfate and chloride processes for manufacturing titanium dioxide. Pangneng Tuo’s UK plant is the only facility under its ownership that produces titanium dioxide via the chlorination process. It has a designed annual production capacity of 150,000 tons per year, and boasts excellent product quality as well as strong customer relationships. On the same day, Longbai Group announced that, in line with the needs of its operations and strategic development as well as to promote its overseas business, its wholly-owned subsidiary, Bailian (Hong Kong) Limited, plans to invest $5 million and $50 million respectively to establish subsidiaries in Malaysia and the UK. Paneng Tuoyuan was originally part of Huntsman’s titanium dioxide and performance additives business; at its peak it had an annual production capacity of 650,000 tons of titanium dioxide, ranking third in the world after Coates and Titan. It operated 20 production facilities in 9 different locations. In recent years. Due to rising energy costs and intensified market competition, Fanengtuo encountered financial difficulties; it had previously closed its factory in Germany and suspended production at its factories in Asia, and sold three of its factories in the UK in an attempt to restructure.