February 5, 2015
FMC Corporation issued a press release announcing that it has signed a definitive agreement to sell its Alkali Chemicals business to Tronox Limited for $1.64 billion. According to the press release, the transaction is expected to close in the first quarter of 2015, subject to customary regulatory approvals and closing conditions.
The sale includes the FMC business unit which is a Member of ANSAC, and in an investor presentation, Tronox highlighted its export sales through ANSAC, which optimizes logistical costs to international locations, as a “Strong Industry Fundamental” supporting the transaction. Tronox stated that after the closing the Alkali Chemicals business will continue to be run as a separate standalone business under the current management team. Alkali Chemicals intends to remain a member of ANSAC under Tronox ownership. Therefore, ANSAC anticipates the acquisition will have no effect on our ongoing operations and supply of high quality natural soda ash to our valued overseas customers.
Founded in 2005 and headquartered in Stamford, CT, Tronox Ltd has annual revenues of approximately $1.8 billion. Its primary business is in the production and marketing of titanium bearing mineral sands and titanium dioxide (TiO2) pigment in North America, Europe, South Africa and the Asia-Pacific region. The company also manufactures and markets electrolytic and other chemical products.