21 February 2013 15:47 [Source: ICIS news]
HOUSTON (ICIS)--Tronox sees the titanium dioxide (TiO2) business Rockwood is seeking to sell or spin off as an "interesting" strategic opportunity, the CEO of the US-based integrated TiO2 producer said on Thursday.
“We know the [Rockwood] facilities … there is reason for us to certainly think about that,” Tronox CEO Tom Casey told analysts in a results conference call when asked if Tronox may want to acquire the Rockwood assets.
“It’s a moment in the industry in which there may be opportunities to create value through strategic activity,” Casey said.
Rather than paying out special dividends or buying back stock, Tronox could great better value through strategic opportunities, he said.
Casey added that there were other assets in the industry that may be up for sale, but Tronox, for its part, so far has had no talks about possible deals.
Additional reporting by Jeremy Pafford
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