Tronox Limited‚ an Australian holding company‚ announced on Friday that it has completed its acquisition of Exxaro Resources Limited’s mineral sands business.
This means that Tronox is now the world’s largest fully integrated producer of titanium ore and titanium dioxide.
“This combination empowers Tronox with unique and game-changing competitive advantages‚ creating a stronger and more balanced company poised to deliver even greater shareholder value‚” said Tom Casey‚ Chairman and CEO of Tronox Limited. “We now have the ability to sell into a lucrative titanium feedstock market while assuring our titanium dioxide customers that we have the supply to deliver quality products at reasonable prices.”
Under the terms of the transaction‚ Exxaro received approximately 38.5% of the voting securities of Tronox Limited. Tronox’s operations include South Africa’s KZN Sands and Namakwa Sands as well as 100% of its former joint venture with Exxaro at Tiwest in Western Australia. The company employs approximately 3‚500 workers in 16 locations worldwide.
Tronox will list its Class A Shares on the New York Stock Exchange on June 18‚ 2012 under the ticker symbol TROX. - I-Net Bridge