02/04/2010
New positioning for TRONOX!
Investments in the millions for new market segments and customer groups/ Excellent order situation, new employees despite insolvency!Krefeld, Februar 8th, 2010. The Uerdingen based Titanium Dioxide producer TRONOX Pigments GmbH uses the insolvency process for a strategic reorientation. According to information received from the administrator of the company, Eberhard Stock, today, TRONOX will invest millions to gain access to new market segments and customer groups. „We will pay special attention to reinforcing our development efforts in order to optimize the participation in high-tech market segments", he emphasized.
The company which is specialized in the development and manufacturing of Titanium Dioxide had filed for bankruptcy in March 2009 and has since continued operating successfully under administration. TRONOX Pigments GmbH, with a turnover of around 120 million Euro in 2009, currently employs around 550 people. A double digit growth in turnover is expected for 2010. Titanium Dioxide is a sought after raw material imparting colour and opacity to paints & coatings, plastics and laminates and is also used in catalysts, electronics, foods, pharmaceuticals and cosmetics among other applications. However, worldwide demand had slumped in late 2008 and 2009 due to the economic crisis.
The administrator, Mr. Stock, has succeeded in sustainably stabilizing the business in the 10 Months since insolvency was filed. The production facility is running at capacity. 40 additional people were employed to ensure that demand can be met.
Furthermore, Stock intends to sell the business to a suitable investor mid term. „However, we are in the comfortable position of not having to take the first best offer", he emphasized. „The Investor that is able to offer the best long term perspective will be favoured". Stock indicated in this context, that this process could still take some time. „We can wait until the economic conditions for a sale of the business have improved."
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