INEOS to Acquire Cristals North American Titanium Dioxide Business from Tronox
March 21, 2019
INEOS Enterprises has signed an agreement to acquire the North American business of National Titanium Dioxide Company Limited (Cristal) from Tronox Limited for $700 million. Cristal’s North American business includes two plants located at the Ashtabula, Ohio 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 will make INEOS the second largest producer of this product in the country. The wider transaction and remedy proposal is subject to clearance by the FTC.