INEOS Enterprises (London; www.ineos.com) has signed an agreement to acquire the North American business of National Titanium Dioxide Company Limited (Cristal) from Tronox Ltd. (Stamford, Conn.; www.tronox.com) for $700 million.
Cristal’s North American business includes two plants located at the Ashtabula, Ohio (US) complex. The deal forms the proposed remedy package submitted to the U.S. Federal Trade Commission (FTC) by Tronox ahead of its proposed acquisition of Cristal’s global titanium dioxide business.
The proposed sale of the North American business to INEOS, has received support from Cristal and Tronox’s North American customers and will make INEOS the second largest producer of this essential product in the country. The wider transaction and remedy proposal is subject to clearance by the Federal Trade Commission (FTC).
Ashley Reed, CEO of INEOS Enterprises said, “This is a great opportunity for INEOS to enter the pigments market, by acquiring a competitive business, with excellent people and assets. INEOS has a strong track record of manufacturing excellence, running its businesses safely and reliably and working closely with customers to meet their growth aspirations.”
Titanium dioxide is a white pigment found in a wide range of applications from paints and varnishes as well as paper and plastics. It is the most widely used white pigment because of its brightness.
By Mary Page Bailey
Source: Chemical Engineering
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?