US Tronox sees Rockwood TiO2 business as ‘interesting’ – CEO

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.

Specialty chemicals firm Rockwood said this week that it plans to exit the TiO2 business by the end of the year.

“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.

Rockwood’s Sachtleben TiO2 business includes a plant - at the Krefeld-Uerdingen chemical park near Dusseldorf, Germany - that Tronox used to own.

“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

By: Stefan Baumgarten
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