STAMFORD, CT, June 3, 2019 (PRNewswire) -Tronox Holdings plc (“Tronox” or the “Company”), the world’s largest vertically integrated producer of titanium dioxide pigment, today announced its Board of Directors has authorized the repurchase of up to $100 million of the company’s stock.
“This authorization to repurchase shares is consistent with our long-term capital allocation priorities of deleveraging, investing in high-return organic projects to lower our costs and opportunistically returning capital to shareholders,” said Jeffry N. Quinn, chairman and chief executive officer of Tronox. “We believe our shares are drastically undervalued and repurchasing shares at the current price is a high-return use of a portion of our discretionary capital that will not impact our ability to achieve our deleveraging commitments or our timeline to deliver the substantial synergies resulting from the Cristal acquisition.”
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.