By Chris Wack
Tronox Holdings said it has informed its Netherlands' labor force that it intends to idle its 90,000 metric ton per year titanium dioxide plant in Botlek, the Netherlands, affecting about 240 staff.
The company said that it is closing the plant after a strategic review of its asset footprint.
The site is currently shut-down due to an outage by the site's chlorine supplier that began March 6. Upon conclusion of consultation with the works council, it is not expected to be brought back online.
Tronox said it is expecting incurring restructuring and other related charges of $130 million to $160 million, primarily over the next 18 months, including $55 million to $65 million of non-cash write-downs related to the idling of the facility.
Tronox is expecting cost savings of more than $30 million annually from 2026 onwards. As a result of these intended actions, free cash flow for 2025 is expected to be more than $50 million.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 17, 2025 09:37 ET (13:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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