INEOS Enterprises has signed an agreement to acquire the North American business of National Titanium Dioxide Company Limited(Cristal)from Tronox Limited for US$700 million.Cristal's North American business includes two plants located at the Ashtabula,Ohio complex.The deal represents the proposed remedy package submitted to the US Federal Trade Commission(FTC)by Tronox ahead of its proposed acquisition of Cristal's global titanium dioxide business.The proposed sale of the North American business to INEOS has received support from Cristal's and Tronox’North American customers and will make INEOS the second-largest producer of this essential product in the region.The wider transaction and remedy proposal is subject to clearance by the Federal Trade Commission(FTC).
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