OKLAHOMA CITY – Tronox Inc. has received approval from its lenders for an amendment to its senior secured credit facility.   

As a result of unexpected impacts in the second quarter, including rapid increases in process chemical, energy and transportation costs and production difficulties the company experienced in the second quarter, combined with the impact of the ongoing weak U.S. economy, Tronox had requested and received approval for a waiver to its leverage ratio financial covenant for the 2008 second quarter and subsequently requested the amendment to its leverage ratio financial covenant for the remainder of the year.  

Tronox remains focused on reducing costs and increasing prices. In the third quarter, the company is continuing to see a trend of further price increases being implemented in all three regions of the world, which it believes will help offset ongoing titanium-dioxide-industry cost increases. There is no assurance, however, that these pricing trends will offset continuing cost increases that the company is unable to predict and that depend on numerous factors beyond its control. As previously announced, Tronox continues to evaluate all strategic alternatives to improve the business, including development opportunities, mitigation of legacy liabilities, capital restructuring and land sales.