And secondly, what have you heard from Lomon Billions ramp up with their chloride production? You should see some of that reduction as phasing and more -- some of those choice issues that you allude to will be more come into our 2020 bucket, where we've highlighted that we won't be spending more than $100 million. And that's a factor to bear in mind. The last question comes from Hassan Ahmed with Alembic Global. We conducted a comprehensive review of color pigments business in the third quarter. Good morning. Asia remains a significant consumer of TiO2 and an important global market for the industry, and is highly fragmented. Welcome to Venator's third-quarter 2019 earnings call. The first part of the question, frankly there are some applications where we sell functional additives and color pigments together, but they are very small in nature. Well, I think -- let's start with the stabilization piece there, David. Look, we believe for us, it was important to bottom out what the opportunity was. Europe is our largest market for TiO2 and accounts for approximately half of the segment's revenue. Jim Sheehan -- SunTrust Robinson Humphrey -- Analyst. The next question comes from Vincent Andrews with Morgan Stanley. It's baked into our standard costing going forward. So that should help you kind of dimension what we're talking around in terms of single millions -- singular millions in the fourth quarter. Good morning. We have reduced the 2019 estimate for cash restructuring payment to $25 million to $30 million. We spoke a number of times about the preponderance of that being related to our largest spend item, namely feedstocks and ores, roughly three-quarters of that. So you have a Pori cash expenses line there that is $65 million to $70 million estimate for the full year of 2019. Clearly, the macros have been very challenging this year and others will take a view on whether that picture is set to brighten or whether that picture is set to darken. Our forecast for capex in 2019 has been reduced to approximately $115 million and does not include approximately $40 million of Pori-related GAAP capex. Over the past two years, we have taken meaningful steps to streamline our cost structure within each of the businesses. We are intensely focused on delivering the remaining costs and operational efficiencies as promised. So the current -- our current view is you spend $90 million in order to get this $15 million. In the third quarter we had a $2 million nonrecurring benefit to EBITDA from a change in plant utilization rates which increased our overhead absorption. But we're talking specifically at this time about our color pigments business. At the end of the third quarter net debt totaled $713 million, and our net leverage ratio was approximately 3.3 times our trailing 12 months adjusted EBITDA. OK. This concludes our question-and-answer session. To enhance shareholder value, we retained Citi as a financial advisor to explore potential sale of the color pigments business. We appreciate that. Just to say that we have a very active pipeline of products here. With that, I'll turn I'll turn it back to Simon for concluding remarks. For the 12 months ended June 30, 2020, we had total revenues of $1,978m. It's just part of life as we know it when you're trying to target products into the [Inaudible] of the market, so we were not surprised that others would see interest in those by the market. [Operator instructions] Please note this event is being recorded. In early -- earlier this year, we came back and said that $60 million of that capital investment, $60 million of the $150 million, we were not going to do and that would reduce the EBITDA -- annual EBITDA benefit by $15 million based on current economic conditions. So what do you think that impact is? Phone: +1 (832)-663-4656 We expect to provide an update to these preliminary 2020 cash uses following our fourth-quarter earnings call early next year. Yes. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. And so you need to understand that our primary desire is to delever the balance sheet if we do sell the business. We have noted, of course, that others have done this type of thing in their own way.