Kerr-McGee Completes Buyout of European TiO2 Plants
Kerr-McGee acquired 80% of the Uerdingen and Antwerp pigment facilities in 1998, with an option to acquire the remaining 20% from Bayer. The two plants have an annual production capacity of approximately 130,000 metric tons.
Luke R. Corbett, Kerr-McGee chairman and CEO, said the acquisition of Bayer’s stake in the TiO2 facilities reflects Kerr-McGee’s strategy to “grow this core business.” He said the company is seeking to become the world’s number-two TiO2 producer worldwide through incremental expansions and acquisitions. Kerr-McGee, currently the number-three TiO2 producer, last year acquired Kemira’s TiO2 operations in Savannah, GA, and Botlek, The Netherlands.