STAMFORD, Conn., April 10, 2019 /PRNewswire/ -- Tronox
Holdings plc (NYSE: TROX) ("Tronox" or the "Company"), a
global mining and inorganic chemicals company, today announced it
has completed its acquisition of the titanium dioxide
("TiO2") business of The National Titanium Dioxide
Company Limited ("Cristal"). The FTC issued an Order and
Decision today, allowing the transaction to proceed with the
divestiture of Cristal's North American TiO2 business to
INEOS Enterprises, a division of INEOS ("INEOS"). The divestiture
transaction is scheduled to close on May 1,
2019. The previously announced divestiture of the 8120 paper
laminate grade to Venator Materials PLC (NYSE: VNTR), which was
approved by the European Commission in August 2018, is expected to close imminently.
"I am pleased this transformative acquisition has finally been
completed and I greatly admire the resiliency both organizations
have shown throughout this process. I also appreciate the
professionalism and collaborative mindset applied by the FTC Bureau
of Competition and the staff of the FTC in working with Tronox,
Cristal and INEOS to reach this resolution," said Jeffry N. Quinn, chairman and chief executive
officer of Tronox. "We look forward to getting to the business of
creating value for our shareholders, serving the needs of our
global customers and creating opportunities for our employees."
Webcast Conference Call
Tronox will conduct a webcast
conference call on Thursday, April 11,
2019, at 8:30 a.m. EDT
(New York) to discuss the
transaction. The live call is open to the public via internet
broadcast and telephone.
Internet Broadcast: tronox.com
Dial-in Telephone Numbers:
U.S. and Canada:
+1.877.831.3840
International: +1.224.633.1393
Conference ID: 4292033
Conference Call Presentation Slides will be used during
the conference and made available on tronox.com
Conference Call Replay: Available via the internet and
telephone beginning on Thursday, April 11,
2019 at 11:30 a.m. EDT
(New York) until Wednesday, April 17, 2019 at 8:30 a.m. EDT (New
York)
Internet Replay: tronox.com
Replay Dial-in Telephone Numbers:
U.S. and Canada:
+1.855.859.2056
International: +1.404.537.3406
Conference ID: 4292033
About Tronox
Tronox Holdings plc is a
vertically integrated mining and inorganic chemical business. The
company mines and processes titanium ore, zircon and other
minerals, and manufactures titanium dioxide pigments that add
brightness and durability to paints, plastics, paper and other
everyday products. For more information, visit tronox.com.
About Cristal
Cristal (also known as The National
Titanium Dioxide Company Limited) operates eight manufacturing
plants in seven countries on five continents and employs
approximately 4,100 people worldwide. Cristal is owned 79
percent by Tasnee (a listed Saudi joint-stock company) and 20
percent by Gulf Investment Corporation (GIC), a company
equally owned by the six states of the Gulf Cooperation
Council (GCC), headquartered in Kuwait. One percent
of the company is owned by Dr. Talal A. Al-Shair, who also
serves as vice chairman, Tasnee and chairman of Cristal.
About INEOS
INEOS Enterprises is comprised of a
portfolio of businesses manufacturing and distributing chemical
products from its facilities and offices in Europe, USA,
Canada, and Asia with global sales of more than €1bn.
INEOS Enterprises is focused on meeting the developing needs of its
customers and rapid growth both through acquisition and through
investment in new manufacturing facilities/products.
Forward-Looking Statements
Statements in this release
that are not historical are forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements, which are subject to known
and unknown risks, uncertainties and assumptions about us, may
include projections of our future financial performance based on
our growth strategies and anticipated trends in our business. These
statements are only predictions based on our current expectations
and projections about future events. There are important factors
that could cause our actual results, level of activity, performance
or achievements to differ materially from the results, level of
activity, performance or achievements expressed or implied by the
forward-looking statements. These and other risk factors are
discussed in the company's filings with the Securities and
Exchange Commission (SEC), including those under the heading
entitled "Risk Factors" in our Annual Report on Form 10-K for the
year ended December 31, 2018.
Specifically, there can be no assurance that we will be able to
integrate Cristal's TiO2 business and realize any expected
synergies or achieve any expected financial or other results of the
acquisition. Moreover, we operate in a very competitive and
rapidly changing environment. New risks and uncertainties emerge
from time to time, and it is not possible for our management to
predict all risks and uncertainties, nor can management assess the
impact of all factors on our business or the extent to which any
factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. Although we believe the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee
future results, level of activity, performance or achievements.
Neither we nor any other person assumes responsibility for the
accuracy or completeness of any of these forward-looking
statements. You should not rely upon forward-looking statements as
predictions of future events. Unless otherwise required by
applicable laws, we undertake no obligation to update or revise any
forward-looking statements, whether because of new information or
future developments.
Tronox Media Contact: Melissa Zona
+1 636.751.4057
Tronox Investor Contact: Brennen Arndt
+1 646.960.6598
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SOURCE Tronox Holdings plc