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
Aseptic carton packaging manufacturer SIG has announced it is investing €12 million in a new pilot plant, which will be part of the company’s new Tech Center Europe. The pilot plant will offer modern extrusion and finishing technology, advanced quality measurement systems and testing equipment.
Johnson Matthey has teamed up with waste-to-chemical technologies company MyRechemical to commercially develop waste-to-methanol technology, with the aim of contributing to sustainability.
Upon completion of the project, Kinder Morgan’s Harvey, Louisiana facility will serve as the primary hub where Neste will store a variety of raw materials including, for example, the used cooking oil it collects from more than 40,000 restaurants across the United States.
