News Release
Oklahoma City, June 13, 2008 – Tronox Incorporated (NYSE: TRX, TRX.B) confirmed that the Tiwest Joint Venture operations in Western Australia are still producing following the June 3, 2008, fire and subsequent shutdown of Apache’s Varanus Island natural gas processing facility. The joint venture has secured short-term natural gas supplies at increased costs, barring any further unforeseen developments.
At this stage, Tiwest continues to operate; however, the natural gas situation and its impact on Western Australian industry is still quite fluid. The joint venture’s ability to continue to produce is contingent on its ability to acquire the necessary natural gas and electricity to safely run the operation. The joint venture will continue to assess the situation and will put in place additional contingency plans as the schedule for restoration of Apache’s facility is further refined. The joint venture is currently quantifying the impact of the increased costs and the ability of the joint venture to recover increased costs through business interruption insurance.
Tiwest, a 50/50 joint venture between Tronox and South African-based Exxaro Resources Limited (JSE Limited: EXX) subsidiary Yalgoo Minerals Pty Ltd, is one of the world’s largest fully integrated, from mining to finished product, titanium dioxide projects. Its facilities include the Cooljarloo mineral sands mine, the Chandala synthetic rutile plant and the Kwinana titanium dioxide pigment plant. The Kwinana plant, with a current annual capacity of 110,000 tonnes, produces chloride process titanium dioxide pigment using Tronox’s proprietary technology and marketed under the TRONOX® brand.
Headquartered in Oklahoma City, Tronox is the world’s third-largest producer and marketer of titanium dioxide pigment, with an annual production capacity of 642,000 tonnes. Titanium dioxide pigment is an inorganic white pigment used in paint, coatings, plastics, paper and many other everyday products. The company’s five pigment plants, which are located in the United States, Australia, Germany and the Netherlands, supply high-performance products to approximately 1,100 customers in 100 countries. In addition, Tronox produces electrolytic products, including sodium chlorate, electrolytic manganese dioxide, boron trichloride, elemental boron and lithium manganese oxide. For additional information on Tronox, visit www.tronox.com.
# # #
Forward-Looking Statements: Some information in this news release regarding the company’s or management’s intentions, beliefs or expectations, or that otherwise speak to future events, are “forward-looking statements” within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include those statements preceded by, followed by or that otherwise include the words “believes,” “will,” “expects,” “anticipates,” “intends,” “estimates,” “projects,” “target,” “budget,” “goal,” “plans,” “objective,” “outlook,” “should,” or similar words. Future results and developments discussed in these statements may be affected by numerous factors and risks, such as the accuracy of the assumptions that underlie the statements, the market value of Tronox’s products, demand for consumer products for which Tronox’s businesses supply raw materials, the financial resources of competitors, the market for debt and/or equity financing, changes in laws and regulations, the ability to respond to challenges in international markets, changes in currency exchange rates, political or economic conditions in areas where Tronox operates, trade and regulatory matters, general economic conditions, and other factors and risks identified in the Risk Factors Section of Tronox’s Annual Report on Form 10-K for the year ended December 31, 2007, and subsequent Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission (SEC), and other SEC filings. Actual results and developments may differ materially from those expressed or implied in this news release. The company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. Investors are urged to consider closely the disclosures and risk factors in Tronox’s Annual Report on Form 10-K for the year ended December 31, 2007, available on Tronox’s website, www.tronox.com. This also can be obtained from the SEC by calling 1-800-SEC-0330.
| Investor Contact: | Robert Gibney Direct: 405-775-5105 E-mail: robert.gibney@tronox.com |
| Media Contact: | Robert Gibney Direct: 405-775-5105 E-mail: robert.gibney@tronox.com |
Tronox Incorporated
3301 NW 150th Street, Oklahoma City, OK 73134
405-775-5000, 866-775-5009 (toll free in North America)
© Tronox Incorporated, 2005-2007. All rights reserved.