Tronox Completes Senior Notes Offering and Announces Closing of New Credit Facilities

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Tronox Completes Senior Notes Offering and Announces Closing of New Credit Facilities

PR Newswire

STAMFORD, Conn., Sept. 22, 2017 /PRNewswire/ – Tronox Limited (NYSE: TROX; the “Company”) announced today that (i) it completed its offering by its wholly owned subsidiary, Tronox Finance plc, of 5.750% senior notes due 2025 for an aggregate principal amount of $450,000,000, the net proceeds of which, together with borrowings under the Company’s New Credit Facilities (defined below) will fund the redemption of the remaining outstanding balance of the $900 million aggregate principal amount of 6.375% senior notes due 2020 issued by Tronox Finance LLC and (ii) it paid off the remaining outstanding balance of the $1.5 billion senior secured term loan entered into by Tronox Pigments (Netherlands) B.V. 

Tronox Limited. (PRNewsFoto/Tronox Limited)

In addition, the Company announced the closing of the Company’s first lien term loan credit facility (the “New Term Loan”) and asset-based revolving syndicated facility (the “New ABL Facility” and, together with the New Term Loan, the “New Credit Facilities”).  Pursuant to the New Term Loan, the Company’s wholly owned subsidiaries Tronox Finance LLC and Tronox Blocked Borrower LLC borrowed $2,150,000,000 of first lien term loans.  Pursuant to the New ABL Facility, the lenders thereunder have agreed to make available up to $550,000,000 of revolving credit loans and letters of credit to one or more of the Company’s wholly owned subsidiaries in the United States, Australia and the Netherlands.

“This refinancing lowers our overall cost of debt, extends our debt portfolio’s weighted average years to maturity, improves our mix of secured and unsecured debt, and provides additional pay down flexibility,” said Tim Carlson, senior vice president and chief financial officer.  “We believe we are now well-positioned to not only complete the transformational combination of Tronox and Cristal’s TiO2 business but also, following closing, to rapidly deleverage our balance sheet as a result of the substantial  free cash flow we believe our combination will generate.”

About Tronox

Tronox Limited is a vertically integrated mining and inorganic chemical business. The Company mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.

Additional Information and Where to Find It

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval. In connection with the Transaction Agreement (the “Cristal Transaction Agreement”), by and between Tronox, The National Titanium Dioxide Company (“Cristal”) and Cristal Inorganic Chemicals Netherlands Coöperatief W.A. (the “Cristal Transaction”), the Company has filed, and intends to file, relevant materials with the U.S. Securities and Exchange Commission (“SEC”). The Company filed a definitive proxy statement regarding the Cristal Transaction with the SEC on August 31, 2017. Investors and Securityholders are urged to read the proxy statement (including all amendments and supplements thereto) and all other relevant documents regarding the proposed Cristal Transaction filed with the SEC or sent to shareholders as they become available, as they will contain important information about the Cristal Transaction. You may obtain a free copy of the proxy statement and other relevant documents filed by the Company with the SEC at the SEC’s website at www.sec.gov. Copies of documents filed by the Company with the SEC will be available free of charge on the Company’s website at www.tronox.com or by contacting the Company’s Investor Relations at +1.203.705.3800.

Certain Information Regarding Participants

The Company, Cristal and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the Cristal Transaction. You can find information about the Company’s directors and executive officers in the Company’s definitive annual proxy statement filed with the SEC on March 16, 2017. Additional information regarding the interests of such potential participants is included in the definitive proxy statement regarding the Cristal Transaction filed with the SEC on August 31, 2017, and will be included in other relevant documents filed with the SEC.

Forward Looking Statements

Statements in this release that are not historical are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. These and other risk factors are discussed in the Company’s filings with the SEC, including those under the heading entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2016 and our Quarterly Report on Form 10-Q for the period ended June 30, 2017.

Significant risks and uncertainties may relate to, but are not limited to, the risk that the Cristal Transaction does not close due to failure of a closing condition or termination of the Cristal Transaction Agreement in accordance with its terms, causing the Company to seek alternative financing for the Cristal Transaction; the risk that the Cristal Transaction will not close, including by failure to obtain shareholder approval, failure to obtain any necessary financing or the failure to satisfy other closing conditions under the Cristal Transaction Agreement or by the termination of the Cristal Transaction Agreement; failure to plan and manage the Cristal Transaction effectively and efficiently; the risk that a regulatory approval that may be required for the Cristal Transaction is delayed, is not obtained or is obtained subject to conditions that are not anticipated; the risk that expected synergies will not be realized or will not be realized within the expected time period; unanticipated increases in financing and other costs, including a rise in interest rates; reduced access to unrestricted cash; compliance with our bank facility covenants; the price of our shares; general market conditions; our customers potentially reducing their demand for our products; more competitive pricing from our competitors or increased supply from our competitors; operating efficiencies and other benefits expected from the Cristal Transaction.

Media Contact: Bud Grebey
Direct: 203.705.3721

Investor Contact: Brennen Arndt
Direct: 203.705.3722

 

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SOURCE Tronox Limited

EAT SMART® Donates 28,000 Salads to Victims of Hurricane Irma

GUADALUPE, Calif., Sept. 22, 2017 (GLOBE NEWSWIRE) — Apio, Inc., a leading provider of Eat Smart® branded packaged, fresh vegetables to retail and club stores throughout North America, has donated 28,000 Eat Smart salads, or approximately 114,000 salad servings, to victims of Hurricane Irma. Eat Smart is partnering with the SOS Foundation and the South Florida Red Cross to distribute these salads to those in need. The delivery from the Apio™ facility in Bowling Green, Ohio is due to arrive in Homestead, Florida on Monday, September 25th.

Eat Smart

Regions of Florida and the Caribbean were hard hit by Hurricane Irma, which reached land Sunday, September 10 as a Category 4 hurricane with winds up to 130 miles per hour. Irma deposited record amounts of rainfall, causing loss of life, massive flooding and infrastructure damage.

“The hearts and minds of all of our employees are with those affected by this disaster,” said Molly Hemmeter, President and CEO of Landec, Apio’s parent company. “Apio operates a facility in Vero Beach, Florida. Our facility was shut down temporarily during the power outage, but we are once again operational. Most importantly, we are grateful that our employees and their families were unharmed. We want to thank the SOS Foundation and the South Florida Red Cross for partnering with us to distribute fresh vegetable salads to those in need during this difficult time.”

Hurricane Irma began on August 30, and reached wind speeds of 185 miles per hour.  Damage of over $62 billion is estimated and over 16 million people were without power. In the span of two weeks, two Category 4 hurricanes — Harvey and Irma — struck the continental United States, the first time this has happened in one hurricane season. Several weeks ago, Eat Smart partnered with the Houston Food Bank to donate 24,000 salads to the victims of Hurricane Harvey.

For more information on Eat Smart, visit www.eatsmart.net.

About Apio, Inc.
Apio™ is an innovative leader in processing and marketing fresh-cut specialty vegetables under the Eat Smart® brand, including multi-serve and single serve salads and party tray products. The company is headquartered in Guadalupe, California. Eat Smart strives to make it easy and delicious for people to eat healthy and Eat Smart products can be found in the refrigerated produce sections of local grocery stores and club stores within the U.S. and Canada. Landec Corporation (NASDAQ:LNDC), leading innovator of diversified health and wellness solutions within the packaged food and biomaterial markets based in Menlo Park, California, acquired Apio, Inc. and the Eat Smart brand in 1999. Visit www.eatsmart.net for more information.  

For more information, contact:
Audrey Sahl
Audrey.Sahl@omalleyhansen.com
(646) 561-8508  

Marine Scrubber Market Worth 662.68 Million Dollars by 2022

Marine Scrubber Market Worth 662.68 Million Dollars by 2022

PR Newswire

PUNE, India, September 22, 2017 /PRNewswire/ —

Marine Scrubber Market 2017 Global Industry Research Report is a professional and in-depth study on the Marine Scrubber Industry size (volume and value) and chain structure added by DeepResearchReports.com to its research database.

Complete report on Marine Scrubber market divided into 13 major chapters that spread across 115 pages, profiling 10 companies and supported with 118 tables and figures, offer an overview of current market scenario as well as Marine Scrubber forecasts is now available at

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The report provides a basic overview of Marine Scrubber market including definitions, classifications, applications and industry chain structure. The Marine Scrubber market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. Development policies and plans of Marine Scrubber market are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins.

It is estimated to reach 801.60 million dollars by 2017 and 662.68 million dollars by 2022. The market greatly affected by the International Maritime Organization’s (IMO) maritime laws — Regulation 4 of MARPOL Annex VI, The IMO Annex VI sulfur regulation calls for a 0.1% sulfur limit in emission control areas (ECA) by 2015 and a worldwide limit of 0.5% by 2020, or 2025 at the latest. The consumption volume will keep increasing till 2020, and the market would be affected greatly by the new shipbuilding market after 2020.

The report focuses on global major leading industry players of Marine Scrubber market providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out. The Marine Scrubber market development trends and marketing channels are analyzed. Finally the feasibility of new investment projects are assessed and overall research conclusions offered. Companies profiled this research includes Wartsila, Alfa Laval, Yara Marine Technologies, Belco Technologies, CR Ocean Engineering, AEC Maritime, Fuji Electric, Clean Marine, Puyier, Shanghai Bluesoul. Place a direct purchase order of this report at http://www.deepresearchreports.com/contacts/purchase.php?name=522693 .

With 118 tables and figures supporting the Marine Scrubber market analysis, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

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Table Global Supply, Sales and Gap of Marine Scrubber 2017-2022 (K Units)
Table China Supply, Sales and Gap of Marine Scrubber 2017-2022 (K Units)
Table China Production, Import, Export and Consumption of Marine Scrubber 2017-2022 (K Units)
Table Global Production (K Units), Price (USD/Unit), Cost (USD/Unit), Revenue (M USD) and Gross Margin of Marine Scrubber 2017-2022
Table China Production (K Units), Price (USD/Unit), Cost (USD/Unit), Revenue (M USD) and Gross Margin of Marine Scrubber 2017-2022
Table Major Raw Materials Suppliers with Contact Information of Marine Scrubber
Table Manufacturing Equipment Suppliers of Marine Scrubber with Contact Information
Table Major Suppliers of Marine Scrubber with Contact Information
Table Key Consumers of Marine Scrubber with Contact Information
Figure Supply Chain Relationship Analysis of Marine Scrubber
Table New Project SWOT Analysis of Marine Scrubber
Table New Project Investment Feasibility Analysis of Marine Scrubber
Table Part of Interviewees Record List

Explore more reports on Machine and Equipment market at http://www.deepresearchreports.com/cat/machines-equipment-market-research.html .

Another research titled 2017 Market Research Report on United States Marine Scrubber Market is supported with 119 tables and figures and provides key statistics on the state of the industry. Few key manufacturers included in this report are Wartsila, Alfa Laval, DuPont, Yara, Saacke, Puyier. Comprehensive table of contents and more on this research is available at http://www.deepresearchreports.com/530923.html .

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Deep Research Reports is digital databank of syndicated market reports for worldwide and China businesses. deepresearchreports.com offers market research reports to businesses, entities and organizations with an objective of assisting them in their decision making process. Our collection of 500,000+ industry & nation research reports shields 5000+ micro markets. We provide 24X7 available, online and offline support to our clients.

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SOURCE DeepResearchReports