Genesis Energy buys Tronox's world-leading alkali business for $1.3B

|About: Genesis Energy, L.P. (GEL)|By:, SA News Editor

Genesis Energy (NYSE:GEL) agrees to acquire Tronox's (NYSE:TROX) alkali business for $1.325B, and reports better than expected Q2 earnings.

TROX's alkali business is the world’s largest producer of natural soda ash (sodium carbonate), used in many products including flat glass, container glass, dry detergent and various chemicals and other industrial products; the unit produces ~4M tons/year of natural soda ash, 28% of the world's total.

Following the sale, TROX issues revised Q2 guidance, seeing EPS of $0.09 on revenues of $622M, and TiO2 pigment selling prices 7% above Q1 and 18 % higher than the year-ago quarter.

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