Venator Materials PLC (NYSE:VNTR) shares dropped more than 8% on Thursday following the company’s provided Q3 business update. The company mentioned a meaningful decline in TiO2 product sales volume in the European and Asian regions.

The company expects Q3 TiO2 sales volumes to be down 25% quarter-over-quarter. With limited outlook visibility and persistently high European energy costs, the shutdown production at its Uerdingen, Germany TiO2 facility and reduced production at its Duisburg, Germany, facility. Combined, these two plants represent 28% of the company’s capacity.