Tronox Provides Update on Sale of Uerdingen Plant
Thursday May 17, 1:00 pm ET
OKLAHOMA CITY, May 17 /PRNewswire-FirstCall/ -- Tronox Incorporated announced that the potential sale of its Uerdingen, Germany, titanium dioxide (TiO2) pigment facility is proceeding as planned and has narrowed the list of potential buyers and begun the next phase of the process.
"The process is moving forward on schedule," said Tom Adams, Tronox chairman and chief executive officer. "With a talented workforce and our recent investments to reduce costs and improve operations, this facility is one of the best sulfate TiO2 plants in the world and is well positioned to take advantage of high-margin specialty markets."
Monetizing its only sulfate process TiO2 plant is part of Tronox's long-term strategic plan to capture opportunities presented by its chloride technology expertise. This sale will enable Tronox to focus resources and cash flow on the further growth of its chloride process TiO2 business, including the previously announced expansion of the Tiwest Joint Venture pigment plant in Kwinana, Western Australia (50/50 joint venture between Tronox and South African-based Exxaro Resources Limited subsidiary, Yalgoo Minerals Pty Ltd). This expansion, which is on schedule for completion by 2009, will increase the company's production capacity to support the rapidly growing Asia-Pacific region.
Headquartered in Oklahoma City, Tronox is the world's third-largest producer and marketer of titanium dioxide pigment, with an annual production capacity of 642,000 tonnes. Titanium dioxide pigment is an inorganic white pigment used in paint, coatings, plastics, paper and many other everyday products. The company's five pigment plants, which are located in the United States, Australia, Germany and the Netherlands, supply high-performance products to approximately 1,100 customers in 100 countries. In addition, Tronox produces electrolytic products, including sodium chlorate, electrolytic manganese dioxide, boron trichloride, elemental boron and lithium manganese oxide.
Source: Tronox Incorporated
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