[Usa] Tronox Confirms Fmc Purchase

Diversified chemicals maker Tronox Ltd has said it would acquire FMC Corp's Alkali Chemicals division for US$1.64BN to expand in faster-growing developing economies. The Alkali Chemicals division is a global producer of natural soda ash and related products used in the glass, chemical processing and detergent industries. Tronox will fund the transaction through cash on hand and new debt pursuant to signed commitments from multiple banks, the company said. Tronox said all of Alkali Chemicals' revenue is booked in the US, enabling the company to utilise its US tax attributes to offset Alkali Chemicals' pretax income.