OKLAHOMA CITY, June 30 /PRNewswire-FirstCall/ -- Tronox Incorporated (Pink Sheets: TROXA, TROXB)
The Tiwest Joint Venture partners Exxaro Resources Limited (Exxaro) and Tronox Incorporated (Tronox) today announced that the joint venture has successfully commissioned the Tiwest Kwinana titanium dioxide (TiO2) pigment plant expansion project and is ready to commence production and ramp-up of the expanded plant.
The expansion will increase the plant's production by approximately 40ktpa to a total capacity of approximately 150ktpa TiO2. The expanded plant is expected to ramp-up to planned production levels by mid 2011. With the continued strong demand for pigment from Asia Pacific, the expansion allows Tiwest to further increase its presence in this fast growing market.
Exxaro's chief executive officer, Sipho Nkosi, said he was delighted with this important development which, combined with the strong demand from the Asia Pacific region, could potentially further increase the profitability of Exxaro's Australian mineral sands operations. Mr. Nkosi paid tribute to the efforts of employees and contractors involved in the expansion and noted that the expansion forms part of Exxaro's strategy of downstream value adding in the Group's mineral sands operations.
Tronox's chief executive officer, Dennis Wanlass, congratulated the Kwinana management and employees for an exceptional job in bringing the expansion on line safely and in time to meet the increasing demand of our Asia Pacific and other global customers. This expansion, combined with recent changes to Tronox's production portfolio, positions Tronox as a preferred global supplier of chloride process TiO2.
The Tiwest (50:50) Joint Venture is the world's largest integrated titanium minerals production and manufacturing company. Established in 1988, Tiwest operates in Western Australia. Its facilities include the Cooljarloo mineral sands mine, the Chandala synthetic rutile plant and the Kwinana TiO2 pigment plant. Tiwest's success has been built on the development of high quality mineral reserves and the application of sophisticated process technology. For information on Tiwest, visit www.tiwest.com.au.
Headquartered in Oklahoma City, Tronox is the world's fourth largest producer and marketer of TiO2 pigment. TiO2 pigment is an inorganic white pigment used in paint, coatings, plastics, paper and many other everyday products. The company's three pigment plants, which are located in the United States, Australia and the Netherlands, supply high-performance products to approximately 1,100 customers in 100 countries.
Exxaro is a diversified resources group with interests in the coal, mineral sands, base metals, industrial minerals and iron ore commodities. More information is available on www.exxaro.com.
Forward-Looking Statements: Some information in this news release regarding the company's or management's intentions, beliefs or expectations, or that otherwise speak to future events, are "forward-looking statements" within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include those statements preceded by, followed by or that otherwise include the words "believes," "will," "expects," "anticipates," "intends," "estimates," "projects," "target," "budget," "goal," "plans," "objective," "outlook," "should," or similar words. Future results and developments discussed in these statements may be affected by numerous factors and risks, such as the accuracy of the assumptions that underlie the statements, the market value of Tronox's products, demand for consumer products for which Tronox's businesses supply raw materials, the market for raw materials that Tronox uses to produce TiO2, its inability to predict the prices of such raw materials, the financial resources of competitors, the market for debt and/or equity financing, changes in laws and regulations, the ability to respond to challenges in international markets, changes in currency exchange rates, political or economic conditions in areas where Tronox operates, trade and regulatory matters, general economic conditions, and other factors and risks identified in the Risk Factors Section of Tronox's Annual Report on Form 10-K for the year ended December 31, 2007, and subsequent Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission (SEC), and other SEC filings. Actual results and developments may differ materially from those expressed or implied in this news release. The company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. Investors are urged to consider closely the disclosures and risk factors in Tronox's Annual Report on Form 10-K for the year ended December 31, 2007, available on Tronox's website, www.tronox.com. This also can be obtained from the SEC by calling 1-800-SEC-0330.
SOURCE Tronox Incorporated