Petrotahlil - 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.