Partial US government shutdown pauses Tronox-Cristal antitrust remedy discussions with Federal Trade Commission

Tronox commented on the status of its ongoing discussions with the Federal Trade Commission (FTC) seeking approval of a proposed remedy related to the acquisition of the titanium dioxide (TiO2) business of The National Titanium Dioxide Company Limited (Cristal).

Cristal is a global chemical and mining company, headquartered in Jeddah, Saudi Arabia.
Cristal is a global chemical and mining company, headquartered in Jeddah, Saudi Arabia.

Throughout the duration of the partial shutdown of the US government, agency personnel are not allowed to work on the Tronox matter, including any further consideration of the proposed remedy, since the pending acquisition is not considered an essential matter under the agency’s shutdown guidelines.

In addition, existing deadlines for filing motions in the matter are extended to five business days after the shutdown ends.

We continue to work diligently with our partners at Cristal, Tasnee and the prospective purchaser of the Ashtabula complex, INEOS Enterprises A.G., to reach a resolution with the FTC, and we remain optimistic one will be reached once discussions resume,” said Jeffry N Quinn, president and chief executive officer of Tronox.

Tronox 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.

Cristal operates eight manufacturing plants in seven countries on five continents and employs approximately 4,100 people worldwide.  Cristal is owned 79% by Tasnee (a listed Saudi joint-stock company) and 20% 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.

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