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Tronox Holdings plc (NYSE: TROX) is a global leader in the mining, production, and marketing of inorganic minerals and chemicals. The company's core business revolves around two vertically integrated divisions: Titanium Dioxide (TiO2) and Alkali Chemicals. The TiO2 division is dedicated to mining and processing titanium ore, zircon, and other minerals, and manufacturing TiO2 pigments. These pigments provide brightness and durability to paints, plastics, paper, and various everyday products. Tronox operates mines and mineral processing plants in South Africa and Australia, along with pigment manufacturing facilities in the USA, the Netherlands, and Australia.
Tronox Alkali is the world's largest producer of natural soda ash, supplying a secure and diverse range of high-quality products. This division processes trona ore to manufacture soda ash, essential in glass production, detergents, chemical manufacturing, pulp and paper production, and water treatment. The company also produces sodium bicarbonate and other chemicals.
Tronox boasts a vertically integrated model, ensuring a reliable supply chain from raw materials to finished products. The company operates titanium-bearing mineral sand mines and beneficiation and smelting operations in Australia and South Africa, which produce feedstock materials that can be processed into TiO2 pigment, high-purity titanium chemicals, including titanium tetrachloride, and ultrafine TiO2 used in specialty applications.
With pigment production facilities in the United States, the Netherlands, and Western Australia, and mining operations in Western Australia and South Africa, Tronox serves customers across North America, the Asia-Pacific, and Europe, the Middle East, and Africa. The company's extensive operations and global footprint enable it to meet the demands of various regions effectively.
Recently, Tronox announced its fourth quarter 2023 earnings, revealing substantial growth and a strong financial position. The company generated $686 million in revenue for the quarter, marking a 6% increase from the previous year. Despite some operational challenges, Tronox has maintained its commitment to innovation and sustainability. The company is nearing the conversion of 40% of its power in South Africa to solar energy, significantly reducing its global carbon emissions.
Tronox's financial stability is evident with $2.8 billion in total debt and available liquidity of $761 million as of December 31, 2023. The company continues to focus on its operational efficiency, cost management, and strategic initiatives to drive long-term growth and profitability.
For more information about how Tronox's products add brightness and durability to various applications, visit tronox.com.
Tronox Holdings plc (NYSE: TROX) announced its schedule for the second quarter 2021 earnings release and webcast conference call. The earnings release is set for July 28, 2021, after market close, with a conference call on July 29, 2021, at 8:00 a.m. ET. The call will be publicly accessible via internet and telephone. Details for the internet broadcast and dial-in numbers have been provided. Tronox is a leading producer of titanium dioxide products and operates globally with a strong workforce and vertical integration.
On May 5, 2021, Tronox Holdings plc (NYSE:TROX) announced a quarterly dividend of $0.08 per share, payable on May 28, 2021. Shareholders of record as of May 17, 2021 will receive the dividend. Tronox is a leading integrated manufacturer of titanium dioxide and related products, operating globally with around 6,500 employees. The company continues to enhance its presence in the titanium market, contributing to its financial stability and shareholder returns.
Tronox reported a record revenue of $891 million for Q1 2021, marking a 14% sequential increase driven by strong TiO2 and zircon sales. Net income was $26 million with a GAAP diluted EPS of $0.12. Adjusted EBITDA rose to $225 million, exceeding guidance. TiO2 sales volumes increased 15% sequentially, while zircon volumes soared 30%. Strong demand in Europe and Asia led growth, though feedstock sales fell 29% due to FTC regulations. The company anticipates similar or increased sales volumes in Q2, with expected Adjusted EBITDA between $225-$240 million.
Tronox Holdings plc (NYSE: TROX) announced its schedule for the first quarter 2021 earnings release and conference call. The earnings release is set for April 28, 2021, after market close, available on PR Newswire and the Tronox website. A webcast conference call will take place on April 29, 2021, at 8:00 a.m. ET, accessible to the public via internet and telephone. Replay options will be available from April 29 until May 4, 2021. Tronox is a leading producer of titanium products, with a diversified global operation.
On March 18, 2021, Tronox Holdings plc (NYSE:TROX) announced the appointment of John D. Romano and Jean-François Turgeon as co-Chief Executive Officers, effective immediately. This decision follows the retirement of former CEO Jeffry N. Quinn. Ilan Kaufthal has been elected Chairman of the Board. Romano and Turgeon have experience in the pigment and mining sectors, and they were leading the company in an interim capacity since December 27, 2020. Their leadership aims to enhance the execution of Tronox's long-term strategic plan.
Tronox Holdings plc (NYSE: TROX) announced the completion of a $1,075 million offering of 4.625% senior notes due 2029. Proceeds will be used to redeem $615 million of 6.500% senior notes due 2026 and $450 million of 5.750% senior notes due 2025. Additionally, on March 11, 2021, the company closed refinancing of its first lien term loan and revolving credit facilities, borrowing $1,300 million and securing $350 million in revolving commitments. These moves are expected to lower annual cash interest by $30 million and extend the debt maturity by three years.
Tronox Holdings plc (NYSE: TROX) has priced its upsized offering of $1,075 million in 4.625% Senior Notes due 2029, aimed at qualified institutional buyers and non-U.S. persons. The offering's closing is expected around March 15, 2021. Proceeds will finance the redemption of $615 million of 6.500% senior notes due 2026 and $450 million of 5.750% senior notes due 2025. The Notes will remain unregistered under the Securities Act, limiting their sale in the U.S. This move reflects Tronox's strategy to manage its debt effectively.
Tronox Holdings plc (NYSE: TROX) announced the intention of its wholly owned subsidiary, Tronox Incorporated, to offer $625 million in senior notes due 2029. The proceeds will be utilized to redeem existing 6.500% senior notes due 2026. The offering is targeted at qualified institutional buyers under Rule 144A and non-U.S. persons outside the United States. The notes will not be registered under the Securities Act, implying restrictions on their sale within the U.S.
Tronox Holdings plc (NYSE:TROX) announced an upsized underwritten registered offering of 19,108,970 ordinary shares at $18.25 each, led by Exxaro Resources Limited, which retains all net proceeds. Additionally, there is a 30-day option for underwriters to purchase 2,866,345 more shares. The offering is set to close on March 1, 2021, pending customary conditions. J.P. Morgan, BofA Securities, Deutsche Bank Securities, and Morgan Stanley are the joint bookrunning managers. The shares are offered under an effective shelf registration statement with the SEC.
Tronox Holdings plc (NYSE:TROX) has declared a quarterly dividend of $0.08 per share, payable on March 19, 2021 to shareholders on record as of March 8, 2021. This dividend reflects the company's commitment to returning value to its shareholders. Tronox is a leading integrated manufacturer of titanium dioxide pigment and operates globally with nearly 7,000 employees. The company focuses on producing high-quality titanium products and minerals, positioning itself as a premier player in the industry.
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