US giant Tronox takes further steps on Cristal acquisition journey
By Grimsby Telegraph | Posted: 11 May 2018
TRONOX, the US chemical giant attempting to complete the buy-out of Cristal, has announced it is to buy a titanium slag smelter facility in Saudi Arabia.
It has entered into an option agreement with Advanced Metal Industries Cluster Company Limited to acquire 90 per cent of the business, which is under the same ownership as the Stallingborough titanium dioxide plant.
Jeffry Quinn, president and chief executive of Tronox, said: “This is another integral step for Tronox to further optimise the level of vertical integration between our production of TiO2 pigment and TiO2 feedstock following the closing of our merger with Cristal and across the cycle over the long term.
“While we continue to work hard at securing approval from regulators in the US and Europe for the Cristal acquisition, this enables us to commence start-up activities now so as soon as the acquisition is approved, we can be in a position to acquire the slagger facility, assuming it meets the sustained output metrics agreed with AMIC.”