Beleaguered titanium dioxide (TiO2) producer Tronox has no lack of potential suitors for its assets, market sources said on Tuesday. Huntsman was reticent about its interest in the bankrupt TiO2 producer, but several producers have eyed Tronox assets, market sources said.
“Of course Huntsman has been … looking at the assets of Tronox,” said one large TiO2 buyer. “Frankly, everybody has.”
A major producer said that there are several candidates to acquire Tronox’s assets, “but with the rapidly changing business and economics environment, the negotiations tend to become more complex”.
“Some TiO2 producers cannot and some do not desire to bid for the whole of Tronox' assets,” the producer said, “but some bidders are willing to take it all. Whatever the outcome, buyers will be faced with a narrower choice of suppliers in the future.”
Tronox filed for bankruptcy protection in January.