INEOS Enterprises has today completed the acquisition of the North American business of National Titanium Dioxide Company Limited (Cristal) from Tronox Limited for $700 million.
The North American business, which includes two-plants located at the Ashtabula Ohio (US) complex will now become fully integrated within the INEOS business, trading as INEOS Pigments.
The divestment of the North American business to INEOS, has received support from Cristal and Tronox’s North American customers. The acquisition makes INEOS the second largest producer of this essential product in the country.
Ashley Reed, CEO of INEOS Enterprises said, “We are very pleased to have completed the deal to acquire this business from Tronox. We have a strong track record of manufacturing excellence, running businesses safely and reliably and working closely with customers to meet their growth aspirations. The INEOS Pigments business, as it will be known, presents new opportunities for INEOS to enter the pigments market, with excellent people and assets. I very much look forward to welcoming the business into INEOS.”
Titanium dioxide is a white pigment found in a wide range of applications from paints and varnishes as well as paper and plastics. It is the most widely used white pigment because of its brightness. Pigment applications include printing inks, fibres, rubber, cosmetic products, glass and ceramics. The global titanium dioxide market is highly competitive, with players competing based on price, quality or product, technical service, and the availability of high-performance pigments.
ENDS
INEOS Media Contact:
Richard Longden (INEOS) 0041 21 627 7063 or 0041 7996 26123
Andrew McLachlan (Media Zoo) 020 7384 6980 or 07931377162
Chris Hall (Media Zoo) 020 7384 6980 or 07739571634
Tronox Media Contact:
Melissa Zona (Media) +1 636.751.4057
Brennen Arndt (Investors) +1 203.705.3730
Note to Editor
About INEOS
INEOS is one of the world’s largest chemicals companies and the 50th largest business in the world, employing around 20,000 people across 171 sites in 24 countries. It is a privately owned company with sales in 2017 of $60bn and EBITDA of $7bn. In addition to its growth in petrochemicals, it has acquired oil & gas fields in the UK, Denmark and Norway and is a top 10 company and the biggest private enterprise operating in the North Sea. Visit ineos.com to learn more.
About INEOS Enterprises
INEOS Enterprises comprises a portfolio of businesses manufacturing chemical products in Northern Europe USA and Canada, with sales of €2bn around the world. The business is focused on the developing needs of its customers and rapid growth through investment in new products and manufacturing facilities or by acquisition. It employs c. 2,000 people across sites in the UK, Germany, Sweden, Switzerland, Canada and the USA. INEOS Enterprises is not part of the INEOS Group Holdings bank group. Visit ineosenterprises.com to learn more.