US bankruptcy court approves Tronox bidding plan to sell plants

16 September 2009 20:59  [Source: ICIS news]

HOUSTON (ICIS news)--A US bankruptcy court approved on Wednesday Tronox's bidding procedures to auction off some of its plants, a company spokesman said on Wednesday.

Tronox's plan established a $415m (€282m) bid by Huntsman as the lowest for its titanium dioxide (TiO2) plants.

A committee representing the shareholders had opposed the sale, saying the bid price was too low.

However, with the bidding procedures now approved, Tronox can proceed with the auction, scheduled for 8 December.

The auction does not include Tronox's plant in Savannah, Georgia.

The following lists the Tronox plants included in Huntsman's bid:

Location	Capacity
Hamilton, Mississippi	225,000 tonnes/year
Kwinana, Western Australia*	110,000 tonnes/year
Botlek, the Netherlands	90,000 tonnes/year

*joint venture with Exxaro Resources

($1 = €0.68)

For more on Huntsman visit ICIS company intelligence
For more on TiO2 visit ICIS chemical intelligence
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By: Al Greenwood
+1 713 525 2645

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