Durability + Design
Follow us on Twitter Follow us on LinkedIn Like us on Facebook Follow us on Instagram Visit the TPC Store
Search the site

 

D+D News

Main News Page


EC Further Approves Tronox-Cristal Deal

Tuesday, September 4, 2018

More items for Good Technical Practice

Comment | More

Tronox Limited (Stamford, Connecticut) announced that the European Commission has further approved its acquisition of Cristal (Jeddah, Saudi Arabia), a titanium dioxide pigment business, by green-lighting the divestiture of Tronox’s 8120 paper-laminate product.

The Deal

The Cristal acquisition was up in the air after The United States Federal Trade Commission said in December 2017 that if the merger were to go through, the new Tronox-Cristal entity and Chemours would together control “the vast majority of chloride titanium dioxide manufacturing capacity in the North American market.”

Tronox

Tronox Limited (Stamford, Connecticut) announced that the European Commission has further approved its acquisition of Cristal (Jeddah, Saudi Arabia), a titanium dioxide pigment business, by green-lighting the divestiture of Tronox’s 8120 paper-laminate product.

(Tronox is currently the world’s sixth-largest TiO2 maker. Cristal is the second-largest TiO2 producer in the world, behind the DuPont spin-off company Chemours. TiO2 is a raw material widely used in the paints and coatings industry as a pigment to provide hide, durability and whiteness characteristics.)

The EC also found earlier this year that the acquisition would significantly reduce competition in “the European market for chloride-based titanium dioxide pigment for use in paper laminate.” The acquisition could both restrict choice and potentially lead to an increase in prices, the EC said.

However, the EC found that the deal would not restrict competition for TiO2 use for other products, just the paper laminate. So, to address those concerns, Tronox offered to divest its “business in titanium dioxide pigment for paper laminate comprising the required technology and other intangibles to an experienced manufacturer with chloride-based production technology active in the European Economic Area.”

Tronox announced the approval of that buyer, Venator Materials, (a United Kingdom-based chemical manufacturing company that spun off from Huntsman International LLC last year) on Aug. 20.

"We are pleased to receive the European Commission's final approval and look forward to consummating this highly synergistic combination designed to increase asset utilization, lower our cost position, unlock incremental product volumes to serve growing global markets, and create significant long-term value for our customers and shareholders," said Jeffry N. Quinn, president and chief executive officer of Tronox.

In addition to receiving final approval from the European Commission, Australia, China, New Zealand, Turkey, South Korea, Colombia and Saudi Arabia have also approved the proposed acquisition. The FTC remains the final regulatory authority reviewing the transaction. 

   

Tagged categories: Acquisitions; Business matters; Mergers; Titanium dioxide; Tronox

Comment Join the Conversation:

Sign in to our community to add your comments.

Advertisements
 
Keim Mineral Coatings
 
Mineral Silicate Paints + Stains Fuse to Concrete
 
• Forms permanent chemical bonds
• Becomes part of the concrete
• Will never peel
• Looks completely natural
 

 
Novatek Corporation
 
Novatek Portable Air Filtration Systems
 
Air Scrubbers/Negative Air machines for restoration, abatement, dust & odor control, hazardous contaminant removal from job sites to clean rooms and hospitals. Portable, affordable!
 

 
Shield Industries, Inc
 
FireGuard® E-84 Intumescent Coating - Shield Industries, Inc
 
Trust the certified protection of the industry’s most innovative intumescent coating FireGuard® E-84 to provide you with the 1 and 2 hour fire ratings you need.
 

 
 
 

Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@durabilityanddesign.com


The Technology Publishing Network

Durability + Design PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

 

© Copyright 2012-2018, Technology Publishing Co., All rights reserved