Interviews
Tronox Incorporated emerges from Chapter 11
15 Feb '11
2 min read
Tronox Incorporated announced that it has successfully emerged from its Chapter 11 proceedings.
"Our emergence from bankruptcy and our new capital structure is a significant accomplishment and makes Tronox a much stronger company for the benefit of our stakeholders, including our customers, vendors, employees, joint venture partner and shareholders," said Dennis L. Wanlass, Chief Executive Officer of Tronox.
"We have successfully restructured our balance sheet while maintaining our business relationships and significantly improving our operating performance."
Having addressed its substantial legacy environmental and other liabilities through a comprehensive settlement, Tronox is now well-positioned to compete in the titanium dioxide and specialty chemical industries.
Wanlass added: "We emerge today with a portfolio of world class titanium dioxide and mineral sands assets and our electrolytic business units strategically positioned to provide our customers around the globe with a reliable supply of high quality products and services. On behalf of the management team, I would like to thank the Tronox and Tiwest joint venture employees worldwide for their hard work and dedication throughout this process, and our customers and suppliers for their continued support."
Tronox commenced its chapter 11 cases on January 12, 2009. Tronox is among the world's leading producers of titanium dioxide pigment and other specialty chemicals used in the manufacture of products such as paints, plastics, paper and batteries.
"Our emergence from bankruptcy and our new capital structure is a significant accomplishment and makes Tronox a much stronger company for the benefit of our stakeholders, including our customers, vendors, employees, joint venture partner and shareholders," said Dennis L. Wanlass, Chief Executive Officer of Tronox.
"We have successfully restructured our balance sheet while maintaining our business relationships and significantly improving our operating performance."
Having addressed its substantial legacy environmental and other liabilities through a comprehensive settlement, Tronox is now well-positioned to compete in the titanium dioxide and specialty chemical industries.
Wanlass added: "We emerge today with a portfolio of world class titanium dioxide and mineral sands assets and our electrolytic business units strategically positioned to provide our customers around the globe with a reliable supply of high quality products and services. On behalf of the management team, I would like to thank the Tronox and Tiwest joint venture employees worldwide for their hard work and dedication throughout this process, and our customers and suppliers for their continued support."
Tronox commenced its chapter 11 cases on January 12, 2009. Tronox is among the world's leading producers of titanium dioxide pigment and other specialty chemicals used in the manufacture of products such as paints, plastics, paper and batteries.
Tronox Incorporated
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