STAMFORD, CT, Jan. 8, 2019 (Press Release) -Tronox Limited (“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.
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.
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.
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 â‚¬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.