Chemicals giant Tronox Inc., in the process of acquiring a mining business, announced Stamford as its new headquarters after having previously been based in Oklahoma City.
Tronox is acquiring the mineral sands business of Exxaro Resources Ltd., with South Africa-based Exxaro getting shares of Tronox as part of the deal.
The Exxaro deal is contingent on South Africa”™s Department of Mineral Resources (DMR) on the transfer of mining rights at a mine there and other regulatory requirements.
If the companies complete the deal, the new Tronox will have 3,500 employees in 16 countries.
In 2005, Tronox was spun out of the Kerr-McGee Corp., itself founded in 1929, and in early 2011 emerged from a Chapter 11 bankruptcy restructuring.
Today Tronox claims status as the world”™s third largest producer of titanium dioxide, a pigment used to whiten products ranging from paper to plastic. The company also produces other specialty chemicals at plants in Hamilton, Miss. And Henderson, Va.
In the three months ending March 31, Tronox reported an $86 million profit on revenue totaling $443 million.
CEO Tom Casey previously led Integra Telecom Inc. and One Communication Corp.
