Tronox Holdings, a titanium products company, has announced the firm will acquire TiZir Titanium and Iron from Eramet S.A. for an estimated $300M.
"This highly strategic acquisition represents the next step in advancing our vertical integration strategy, providing Tronox with increased titanium feedstock capacity to better fulfill our internal requirements, and in turn, better serve our pigment customers with a low-cost, secure source of supply. The site is ideally situated to supply feedstock to our European pigment facilities.”
Jeffry N. Quinn, Chairman and CEO of Tronox.
The deal is representative of significant M&A activity in the precious metals and mining business even as other firms make efforts to limit CapEx and preserve liquidity.