Subject: TNM
Tronox Receives Statement of Objections from the European Commission Regarding the Cristal TiO2 Acquisition Agreement
STAMFORD, Conn., March 20, 2018 /PRNewswire/ -- Tronox Limited (NYSE: TROX) ("Tronox" or the "Company"), a global mining and inorganic chemicals company, today announced it has received a Statement of Objections from the European Commission (the "Commission") regarding the previously announced agreement to acquire the titanium dioxide ("TiO2") business of Cristal, a privately held global chemical and mining company headquartered in Jeddah, Saudi Arabia. The Statement of Objections reflects the preliminary assessment of the Commission and does not prejudge the outcome of the investigation and/or the need to offer any particular remedy. Tronox must respond to the Statement of Objections by early April 2018.
"The Statement of Objections further details and clarifies the Commission's position, and receipt of it establishes a defined framework to move forward," said Jeffry N. Quinn, president and chief executive officer of Tronox. "We continue in constructive dialogue and I am confident we can determine an appropriate and proportionate resolution to any valid concerns of the Commission."
About Tronox
Tronox Limited is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products. For more information, visit tronox.com.
About Cristal
Cristal (also known as The National Titanium Dioxide Company Limited) operates eight manufacturing plants in seven countries on five continents and employs approximately 4,100 people worldwide. Cristal is owned 79 percent by Tasnee (a listed Saudi joint-stock company) and 20 percent by Gulf Investment Corporation (GIC), a company equally owned by the six states of the Gulf Cooperation Council (GCC), headquartered in Kuwait. One percent of the company is owned by Dr. Talal A. Al-Shair, who also serves as vice chairman, Tasnee and chairman of Cristal.
Media Contact: Melissa Zona
+1 636.751.4057
Investor Contact: Brennen Arndt
+1 203.705.3730
SOURCE Tronox Limited
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