Cristal completes $110m ITP takeover

17 October 2008 05:51  [Source: ICIS news]

SINGAPORE (ICIS news)--Cristal US, a wholly-owned subsidiary of Cristal Global,  has completed the $110m (€80m) takeover of International Titanium Powder (ITP), Cristal Global said in a statement released late Thursday.

 

ITP is a US maker of high-purity titanium and titanium alloy powders.

 

"Cristal Global will leverage its position from titanium feedstock through to titanium metal, titanium dioxide and various other intermediates and specialty titanium-based products,” said Robert Daniels, vice president at US Cristal who would lead ITP's business.

 

ITP is currently building a 4m lb/year (1,814 tonne/year) titanium powder plant in Ottawa, Illinois, that should start production within 18 months.

 

Cristal had recently acquired nearly 93% of Australia’s Bemax Resources, which is among the world's largest mineral sands companies and a major producer of titanium dioxide (TiO2).

 

For more on TiO2 visit ICIS chemical intelligence

To discuss issues facing the chemical industry go to ICIS connect

 

 

 

By: Ng Hun Wei
+65 6780 4359

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly