Tronox Announces Closing of Alkali Chemicals Acquisition
Tronox Limited (TROX) announced today that it has closed its acquisition of the Alkali Chemicals business from FMC Corporation. Tronox Limited now owns and operates two vertically integrated inorganic minerals businesses: Tronox Titanium Dioxide (TiO2), which mines titanium ore and produces TiO2 pigments, and Tronox Alkali, which mines trona ore and produces natural soda ash.
Tom Casey, chairman and CEO of Tronox, said: "The combination of Tronox and Alkali creates a leading inorganic chemicals company comprised of two fully integrated businesses with a competitive industry advantage. Tronox now has greater scale, more stable revenue, cash flow and EBITDA, and higher net income. The acquisition of the Alkali business also diversifies our end-market exposure and revenue base and increases our U.S. income and participation in faster growing economies. We are very pleased to welcome Alkali＇s more than 1,000 employees and experienced senior management team to Tronox."
Tronox Alkali is the world＇s largest producer of natural soda ash, which is used by customers in the glass, detergent, and chemical manufacturing industries.
Casey added: "Natural soda ash maintains a sustained structural cost advantage globally compared to producers of synthetic soda ash. As a result of this advantage, Tronox Alkali brings a history of consistently delivering strong operational and financial performance across economic cycles. They are a recognized leader in their industry for safety performance and manufacturing excellence."