Cristal Announces Acquisition Agreement with Jiangxi Tikon
JEDDAH, Saudi Arabia - The National Titanium Dioxide Co. Ltd. (Cristal) has entered into an agreement to acquire the titanium dioxide (TiO2) assets of Jiangxi Tikon Titanium Co. Ltd. The Jiangxi Tikon manufacturing facility is located in the city of Fuzhou in Jiangxi Province, China.
The transaction, which is expected to close no later than the end of the first quarter of 2015, will consist of a combination of an asset and equity deal structure.
The acquisition of the Jiangxi Tikon TiO2 assets is part of Cristal’s strategy to expand its global geographical presence in all regions of the world and to increase its presence in the largest TiO2 demand market in the world.
Mark Stoll, Director General – Corporate Development, said, “Cristal firmly believes this transaction will further enhance our ability to increase our product offering to our global customer base and show our commitment to supplying the best products and services available in the industry.”