Completion of Cristal acquisition bolsters company’s scale
In April 2019, Tronox purchased Cristal for $2.2 billion, nearly doubling in size. To obtain regulatory approval for the Cristal acquisition, Tronox was required by the US Federal Trade Commission to divest Cristal's North American titanium dioxide business, which it sold to INEOS Enterprises in May 2019 for $701.0 million. Tronox's management team intends on consuming feedstock materials produced by acquired mining and smelting facilities located in Australia, South Africa and Brazil. The company's goal is to become fully vertically integrated, consuming all of its feedstock materials in its own production facilities to produce TiO2 in the United States and other international locations.
Balance Sheet|Structural|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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