STAMFORD, Conn., Jan. 4, 2021 /PRNewswire/ -- Tronox Holdings
plc (NYSE:TROX) ("Tronox" or the "Company"), a leading integrated
manufacturer of titanium dioxide pigment, today received a decision
from the British Competition and Markets Authority ("CMA")
indicating that it intends to open a Phase 2 investigation into
Tronox's proposed acquisition of the TiZir Titanium and Iron
("TTI") business from Eramet S.A. (the "Seller") as announced on
May 14, 2020. As a standard
part of the process, the Company may offer remedies to the CMA
before it reaches a final decision on whether to begin a Phase 2
investigation. The Company will keep the market informed of
the progress of the transaction.
The transaction did not require notification in the United Kingdom or meet premerger reporting
thresholds in the United States;
however, the CMA and the Federal Trade Commission each launched
investigations into the transaction, and the Company has been
cooperative throughout these reviews.
About Tronox
Tronox Holdings plc is one of the world's leading producers of
high-quality titanium products, including titanium dioxide pigment,
specialty-grade titanium dioxide products and high-purity titanium
chemicals; and zircon. We mine titanium-bearing mineral sands and
operate upgrading facilities that produce high-grade titanium
feedstock materials, pig iron and other minerals. With nearly 7,000
employees across six continents, our rich diversity, unmatched
vertical integration model, and unparalleled operational and
technical expertise across the value chain,
position Tronox as the preeminent titanium dioxide
producer in the world. For more information about how our products
add brightness and durability to paints, plastics, paper and other
everyday products, visit Tronox.com.
About Eramet
Eramet, a global mining and metallurgical group, is a key player
in the extraction and valorisation of metals (manganese, nickel,
mineral sands) and the elaboration and processing of alloys with a
high added value (high-speed steels, high-performance steels,
superalloys, aluminium and titanium alloys). The Group supports the
energy transition by developing activities with high growth
potential, including recycling and the extraction and refining of
lithium. Eramet positions itself as the privileged partner of its
customers in sectors that include carbon and stainless steel,
aerospace, pigments, energy, and new battery generations. Building
on its operating excellence, the quality of its investments and the
expertise of its employees, the Group leverages an industrial,
managerial and societal model that is virtuous and value-accretive.
As a contributive corporate citizen, Eramet strives for a
sustainable and responsible industry. Eramet employs around 13,000
people in more than 20 countries with sales of c.€4 billion in
2019. For further information, go to www.eramet.com
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 including the effects of the
COVID-19 pandemic and anticipated synergies based on our growth and
other 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, actual synergies, or achievements to differ materially
from the results, level of activity, performance, anticipated
synergies or achievements expressed or implied by the
forward-looking statements. Significant risks and uncertainties may
relate to, but are not limited to, the risk that a regulatory
approval that may be required for the Transaction is delayed, is
not obtained or is obtained subject to conditions that are not
anticipated; the risk that the Transaction does not close or that
the Transaction Agreement is terminated; the risk that expected
synergies, operating efficiencies and other benefits expected from
the Transaction will not be realized or will not be realized within
the expected time period; business and market disruptions related
to the COVID-19 pandemic, market conditions and price volatility
for titanium dioxide, zircon and other feedstock materials, as well
as global and regional economic downturns, including as a result of
the COVID-19 pandemic, that adversely affect the demand for our
end-use products; disruptions in production at our mining and
manufacturing facilities; and other financial, economic,
competitive, environmental, political, legal and regulatory
factors. These and other risk factors are discussed in the
Company's filings with the Securities and Exchange Commission
(SEC).
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, synergies 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.
Media Contact: Melissa Zona
+1.636.751.4057
Investor Contact: Jennifer
Guenther
+1.646.960.6598
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SOURCE Tronox Holdings plc