STAMFORD, Conn., Jan. 8, 2019 /PRNewswire/ -- Tronox Limited
(NYSE: TROX) ("Tronox" or the "Company"), a global mining and
inorganic chemicals company, today commented on the status of its
ongoing discussions with the Federal Trade Commission seeking
approval of a proposed remedy related to the acquisition of the
titanium dioxide (TiO2) business of The National
Titanium Dioxide Company Limited (Cristal). Throughout the duration
of the partial shutdown of the U.S. government, agency personnel
are not allowed to work on the Tronox matter, including any further
consideration of the proposed remedy, since the pending acquisition
is not considered an essential matter under the agency's shutdown
guidelines. In addition, existing deadlines for filing motions in
the matter are extended to five business days after the shutdown
ends.
"We continue to work diligently with our partners at Cristal,
Tasnee and the prospective purchaser of the Ashtabula complex,
INEOS Enterprises A.G., to reach a resolution with the FTC, and we
remain optimistic one will be reached once discussions resume,"
said Jeffry N. Quinn, president and
chief executive officer of Tronox.
About Tronox
Tronox Limited 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, 2017.
Specifically, there can be no assurance that the proposed remedy
transaction will be accepted by the FTC Commissioners and that our
proposed acquisition of Cristal's TiO2 business will be
consummated. There can also be no assurance that we will be
able to complete the re-domicile transaction from Australia to the United Kingdom and that we will be able to
complete the transaction with Exxaro. 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
+1 203.705.3730
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SOURCE Tronox Limited