TiO2 Price Increase September/October 2011
Oklahoma City, August 22, 2011 – Tronox Incorporated, on behalf of its subsidiary companies, today announced the following price increases for all TRONOX® titanium dioxide (TiO2) grades:
Effective October 1, 2011 or as contracts allow:
• Latin America, minimum $500 per tonne
• Europe/Middle East/Africa 500 Euros per tonne or $700 per tonne in U.S. Dollar markets.
• Asia Pacific $500 per tonne
In addition, effective September 1, 2011 or as contracts allow:
• North America $0.10 per pound on select laminate, specialty and plastic grades
These increases are in addition to those previously announced. Other increases may be announced locally within each region.
Headquartered in Oklahoma City, Tronox is one of the five largest producers and marketers of titanium dioxide pigment. Titanium dioxide pigment is an inorganic white pigment used in paint, coatings, plastics, paper and many other everyday products. The company’s pigment plants, which are located in the United States, Australia and the Netherlands, supply high-performance products to approximately 1,000 customers in 90 countries. In addition, Tronox produces electrolytic products, including sodium chlorate, electrolytic manganese dioxide, boron trichloride, elemental boron and lithium manganese oxide. For information on Tronox, visit www.tronox.com.
Forward Looking Statements: This release contains forward looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1985. 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. Investors are cautioned that these forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those statements. The risks and uncertainties include the company's ability to: manage costs; achieve adequate liquidity; execute its new strategic focus; reach a sustainable business model; survive as a stand-alone entity; reach operational efficiency; and reach and sustain profitability. Additional risks related to the company's recent emergence from bankruptcy include: any negative impacts on the company's business, results of operations, financial position or cash management arrangements; the negative impact on relationships with employees, customers, suppliers and contract manufacturers and other stakeholders; and the failure of the company to successfully implement the plan of reorganization. In addition, the instability of the global economy and tight credit markets could continue to adversely impact the company's business in several respects, including adversely impacting credit quality and insolvency risk of the company and its customers and business partners, including suppliers and distributors; bookings; and reductions and deferrals of demand for Tronox products.
The company urges investors to review in detail the risks and uncertainties discussed in the financial statements we published on our web page, in conjunction with the filings in our Chapter 11 cases and the Company's prior filings with the Securities and Exchange Commission. Unless otherwise required by applicable laws, the company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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