FILE PHOTO: The Federal Trade Commission building is seen in Washington on March 4, 2012. REUTERS/Gary Cameron
WASHINGTON - Tronox Ltd has reached a settlement with U.S. antitrust enforcers that will allow it to move forward with its purchase of much of Cristal’s titanium dioxide business, the Federal Trade Commission said on Wednesday.Under the settlement, Tronox has agreed to sell facilities in Ashtabula, Ohio which make titanium dioxide. It had previously valued the assets at $700 million, and a British company, INEOS Enterprises AG, agreed to buy the plants.
The FTC said in December 2017 that it would go to court to block the deal, arguing that the companies are two of the three top suppliers of chloride process titanium dioxide. The third is the Chemours Co.The FTC won victories in both a federal court and before an FTC administrative law judge. “ is an ingredient in many products used by consumers,” said Bureau of Competition Director Bruce Hoffman. “This agreement will preserve a competitive marketplace, which ultimately benefits consumers in the form of lower prices and higher quality products.”Reporting by Diane Bartz; Editing by Chizu Nomiyama and Richard Chang
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