US Tronox completes acquisition of Exxaro mineral sands business

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 South Africa's KZN Sands and Namakwa Sands, as well as 100% of its former joint venture with Exxaro at Tiwest in Western Australia

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.

By: Stefan Baumgarten
+1 713 525 2653

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