08 June 2012 22:37 [Source: ICIS news]
HOUSTON (ICIS)--US titanium dioxide (TiO2) producer Tronox has received the final approvals from the South African government to complete its acquisition of the mineral sands business of Exxaro Resources, the company said on Friday.
The deal will close on 15 June, and then Tronox will list its shares on the New York Stock Exchange (NYSE) on 18 June, the company said.
The Exxaro acquisition makes Tronox the “largest vertically integrated company in the sector,” said Bud Grebey, the vice president of corporate communications.
“We have both the feedstock business and the production and marketing side,” he said. “We will be able to supply 100% of our feedstock needs.”
Grebey said the company will also now have the option to sell feedstock to other companies.
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