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Monday, 16 September 2019
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Markets & companies, Raw materials market

Titanium dioxide: Sachtleben to acquire Crenox

Tuesday, 12 June 2012

The Crenox staff of around 550 will be further employed by Sachtleben.

The acquisition of Crenox will add over 100,000 metric tons of TiO2 production, increasing Sachtleben’s total capacity to approximately 340,000 metric tons. Source: Sachtleben GmbH
The acquisition of Crenox will add over 100,000 metric tons of TiO2 production, increasing Sachtleben’s total capacity to approximately 340,000 met...

Kemira Oyj's and Rockwood Holdings Inc.'s titanium dioxide (TiO2) joint venture Sachtleben GmbH has reached an agreement to acquire the TiO2 production assets and inventory of Crenox GmbH, based in Krefeld, Germany, from the insolvency administrator. The transaction is expected to close by mid-July, subject to completion of due diligence, government approvals and other conditions.

The acquisition will add over 100,000 metric tons of TiO2 production, increasing total capacity to approximately 340,000 metric tons, further enhancing Sachtleben's position as supplier of titanium dioxide pigments.

Crenox staff will join Sachtleben

The insolvency administrator of Crenox, Eberhard Stock, is pleased to announce that all 550 employees will keep their jobs. Crenox GmbH has been under administration since 2009, as a result of the creditor protection proceedings affecting its former U.S. parent company Tronox Inc.

Vernon S. Sumner, CEO of Sachtleben, added, "For most of 2010 and 2011 we were completely sold out in our titanium dioxide business, with sales limited by our production output. This acquisition provides us with a financially attractive capacity expansion to meet the growing needs of customers in all market segments. The technology, products, customer base and employees of Crenox are the ideal supplement to Sachtleben's portfolio."

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