February 21, 2017 / 1:00 PM / 5 months ago

Tronox expands titanium dioxide business with $1.67 bln deal

1 Min Read

Feb 21 (Reuters) - Chemical maker Tronox Ltd said it would expand a business that makes titanium dioxide, a whitening pigment used in paints, paper and plastics with a $1.67 billion deal.

Tronox is buying the titanium dioxide unit of privately held chemical and mining company Cristal.

Cristal will hold a 24 percent stake in the new Tronox, which will include the expanded pigments unit.

Tronox also plans to sell its alkali business. The unit makes natural soda ash, which is used in the production of glass, detergents, chemicals, pulp and paper, and water treatment. (Reporting by Komal Khettry in Bengaluru; Editing by Shounak Dasgupta)

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