Tronox

Tronox Limited

Company type	Public
Industry	Chemical
Predecessor	Kerr-McGee Chemical Corporation (division)
Founded	2006 (2006)
Headquarters	Stamford, Connecticut , United States
Area served	Worldwide
Key people	Tom Casey (CEO)
Products	Titanium dioxide pigment, titanium feedstock, pig iron, monazite, electrolytic and speciality chemicals
Number of employees	6,500

Tronox Limited is a multinational chemical corporation headquartered in the United States, focusing on titanium-based products and employing approximately 6,500 individuals worldwide. Following its acquisition of the mineral sands division from South Africa's Exxaro Resources, Tronox emerged as the foremost fully integrated producer and distributor of titanium dioxide (TiO₂) pigment, which finds applications in coatings, plastics, and paper industries. The company engages in mining titanium-rich mineral sands and operates production facilities that yield premium titanium feedstock, pig iron, and other minerals such as monazite. Additionally, Tronox markets titanium ore and zircon directly to its clientele.

Ranking as the third-largest global producer of titanium feedstock, Tronox accounts for roughly 10% of worldwide titanium ore output and holds the position of second-largest zircon manufacturer with an estimated 20% share of the market. Its electrolytic and speciality chemicals segment caters to sectors including paper manufacturing and battery production. Initially a division of Kerr-McGee Chemical Corporation based in Oklahoma City, Tronox was separated through a spin-off in 2005 and subsequently shifted its corporate headquarters to Stamford, Connecticut in 2012.

The spin-off was designed to isolate Kerr-McGee’s significant environmental obligations—arising from decades of hazardous waste disposal across 22 states—from its lucrative oil and gas holdings. These undisclosed liabilities led to a drastic decline in Tronox’s stock value, reducing it to penny stock status by 2009. Following this, shareholders initiated legal action against Anadarko Petroleum (Kerr-McGee's successor) for failing to disclose environmental risks. The United States government also pursued litigation against Anadarko, culminating in a landmark $5 billion settlement in 2014 to fund environmental remediation efforts.

History

Tronox made its public market debut in 2005 when Kerr-McGee, based in Oklahoma City and serving as the sole proprietor, launched an initial public offering on November 21, 2005. The company gained full independence by March 2006.

In early 2006, Tronox took the place of Meade Instruments on the S&P SmallCap 600 index after Kerr-McGee distributed its remaining Tronox shares under the NYSE ticker TRX.B. Nevertheless, by 2008, both classes of stock had fallen sharply into penny stock territory, resulting in their transfer from the NYSE to over-the-counter trading in September 2008.

On January 14, 2009, Tronox filed for Chapter 11 bankruptcy protection, excluding operations outside the United States. Subsequently, shareholders filed lawsuits against Anadarko Petroleum (the successor to Kerr-McGee), accusing it of deceiving investors about substantial environmental liabilities assigned to Tronox. These liabilities encompassed contamination of Lake Mead, radioactive waste on Navajo Nation lands, and carcinogenic pollutants from wood treatment plants located throughout various US regions.

In 2009, Huntsman Corporation announced intentions to purchase select Tronox assets; however, this agreement was terminated later that year. Tronox successfully emerged from bankruptcy proceedings on February 14, 2011.

Tom Casey assumed the role of CEO in October 2011. On June 15, 2012, Tronox finalized its acquisition of Exxaro Mineral Sands and restructured under the Australian holding entity Tronox Limited. CEO Casey emphasized the strategic benefit this provided by securing access to titanium feedstock markets while stabilizing supply chains for titanium dioxide products.

In April 2014, the US government achieved a $5 billion settlement with Anadarko Petroleum—the largest environmental contamination resolution in American history. Judicial assessments estimated that cleanup expenses for liabilities inherited by Tronox from Kerr-McGee surpassed $5 billion, covering polluted sites across 22 states as well as Navajo Nation territories.

On April 10, 2019, Tronox broadened its international presence through acquiring Saudi Arabia-based titanium dioxide pigment producer Cristal Global.

Locations

Corporate headquarters

• Stamford, Connecticut

Operations in mineral sands

• Namakwa Sands, South Africa
• KwaZulu-Natal (KZN) Sands, South Africa
• Cooljarloo, Western Australia
• Chandala Processing Plant, Western Australia
• Pooncarie, New South Wales

Pigment manufacturing sites

• Hamilton, Mississippi
• Botlek, Netherlands
• Bunbury, Australia
• Kwinana, Australia
• Stallingborough, United Kingdom

Kerr-McGee divestiture

Around 2005-2006, Kerr-McGee separated its chemical division following pressure from prominent shareholder and activist investor Carl Icahn. As a result, Tronox assumed responsibility for multiple radioactive waste locations previously managed by Kerr-McGee, including the Cimarron Fuel Fabrication Site and the Rare Earths Facility, both still undergoing remediation as of 2014.

Additionally, Tronox took ownership of the Henderson, Nevada "BMI" facility, a longstanding producer of magnesium and chemicals dating back to World War II. This site was identified as a source of perchlorate contamination affecting groundwater supplies feeding into Lake Mead and the Colorado River, vital water resources for millions of people.

Following its emergence from bankruptcy protection in February 2011, Tronox formed the Anadarko litigation trust to initiate legal action against Anadarko and Kerr-McGee concerning environmental obligations. Under its Chapter 11 reorganization plan, Tronox allocated an 88% interest in this litigation to the federal government.

See also

• Covington & Burling (legal counsel during spinoff and IPO)