TRONOX
Investment group Apollo bids on TIO2 manufacturer / Move follows talks to acquire Kem One
The additive is used for a range of purposes (Photo: Tronox)
US-based Apollo Global Management (New York, New York; www.apolloic.com) has submitted an offer for compatriot titanium dioxide supplier Tronox (Stamford, Connecticut; www.tronox.com), according to a Reuters report, which says the investor is offering USD 27 per share (EUR 22.85). This values the company at USD 4.3 bn for the manufacturer of the additive, an essential component in white window profiles and other products.

Well-known in plastics circles, Apollo – through affiliated funds – is also seeking to enter the PVC business with the purchase of French resin maker Kem One (Lyon; www.kemone.com – see Plasteurope.com of 14.09.2021).

Tronox appears to have already recovered well from the pandemic. Revenue in the second quarter of 2021 climbed 60% to USD 927m versus the same period last year, which was also during the first major wave of Covid-19. Adjusted EBITDA last quarter rose 67% to USD 237m. The company generated almost 80% of its revenues in the TiO2 business.
20.09.2021 Plasteurope.com [248596-0]
Published on 20.09.2021
Tronox: Investmentgesellschaft Apollo gibt Gebot abGerman version of this article...

© 2001-2021 Plasteurope.com  |  Imprint  |  Privacy  |  Cookie settings

Plasteurope.com is a business information platform for the European plastics industry. It is part of KI Kunststoff Information and PIE Plastics Information Europe, one of the leading content providers for the European plastics industry. We offer daily updated business news and reports, in-depth market analysis, polymer prices and other services for the international plastics industry, including a suppliers guide, career opportunities, a trade name directory and videos.

News | Polymer Prices | Material Databases | Plastics Exchange | Suppliers Guide | Jobs | Trade Names | Videos | Associations & Institutions | Register | Advertising

PIE – Plastics Information Europe | KI – Kunststoff Information | KunststoffWeb | Plastics Material Exchange | Polyglobe | K-Profi
© 2001-2021 by Plasteurope.com, Bad Homburg
Date of print: 29.11.2021 21:48:34   (Ref: 637332654)
Text and images are subject to copyright and other laws for protection of intellectual property.
Any duplication or distribution in any media as a whole or in parts requires prior written approval by Plasteurope. URL: http://www.plasteurope.com/news/detail.asp