- Tronox Holdings (NYSE:TROX) has acquired the TiZir Titanium and Iron business from Eramet S.A., a publicly traded French multinational mining and metallurgy company, for ~$300M.
- "This highly strategic acquisition represents the next step in advancing our vertical integration strategy, providing Tronox with increased titanium feedstock capacity to better fulfill our internal requirements, and in turn, better serve our pigment customers with a low-cost, secure source of supply. The site is ideally situated to supply feedstock to our European pigment facilities," commented Jeffry N. Quinn, chairman and chief executive officer of Tronox.
- As part of the transaction, the company will enter a supply agreement with Eramet's Grande Côte Operations mineral sands mine in Senegal to provide Grande Côte's ilmenite to TTI.
- The transaction is expected to achieve $15M to 20M in run-rate synergies in year three.