US TiO2 producer Tronox emerges from bankruptcy

15 February 2011 08:56  [Source: ICIS news]

SINGAPORE (ICIS)--US titanium dioxide (TiO2) producer Tronox has emerged from bankruptcy with a new capital structure, the company said late on Monday.

"We have successfully restructured our balance sheet while maintaining our business relationships and significantly improving our operating performance," said Tronox CEO Dennis Wanlass in a statement.

Tronox filed for bankruptcy protection in January 2009.

“Having addressed its substantial legacy environmental and other liabilities through a comprehensive settlement, Tronox is now well-positioned to compete in the titanium dioxide and specialty chemical industries,” the statement said.

Tronox earlier in November last year said that it would pay $270m (€200m) to settle environmental claims against it that were incurred when it was spun off in 2006 by Kerr-McGee Corp.

($1 = €0.74)

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By: Nurluqman Suratman



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