15 June 2012 14:12 [Source: ICIS news]
HOUSTON (ICIS)--Tronox has completed its acquisition of Exxaro Resources’ mineral sands business to create the world’s largest fully integrated producer of titanium ore and titanium dioxide (TiO2), the US-based firm said on Friday.
With the acquisition, Tronox's operations include ?xml:namespace>
Under the terms of the transaction, which was first announced last September, Exxaro received about 38.5% of the voting securities of Tronox.
"This combination empowers Tronox with unique and game-changing competitive advantages, creating a stronger and more balanced company poised to deliver even greater shareholder value," said Tronox CEO Tom Casey.
"We now have the ability to sell into a lucrative titanium feedstock market while assuring our titanium dioxide customers that we have the supply to deliver quality products at reasonable prices," Casey added.
Tronox will list its class A shares on the New York Stock Exchange on 18 June.
The Stamford, Connecticut-based company employs a staff of 3,500 at 16 locations worldwide.
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections