A European manufacturer shuts down a titanium dioxide plant with an annual production capacity of 90,000 tons

Trono Holdings Ltd. ("Trono" or "the Company"), a leading global integrated manufacturer of titanium dioxide (TiO2) pigments, recently announced that after a strategic assessment of its asset layout, Trono has informed its Dutch employees that the company plans to shut down its 90,000 tons per year titanium dioxide (TiO2) plant in Botlek, the Netherlands. The plant is currently closed due to a failure of the plant's chlorine supplier on March 6, 2025, and production is not expected to resume after consultation with the plant committee. Trono does not expect this move to affect its ability to supply customers, as the company will use its diversified production layout to ensure that supply is not affected. The plant currently has approximately 240 regular employees affected.

John D. Romano, Chief Executive Officer, commented: "Our announcement today is the result of a comprehensive review of our asset portfolio. Over the past two and a half years, competition from Chinese companies has led to a continued imbalance in global supply and an increasingly challenging operating environment. Closing the Botlek plant will enable us to optimize operations at our remaining plants and reduce overall manufacturing costs. Botlek colleagues are an important part of the Tronox team. We are committed to assisting our employees during this difficult time, and local management will provide support and a comprehensive range of services."

Trono expects to incur approximately $130 million to $160 million of restructuring and other related charges, primarily over the next 18 months, including $55 million to $65 million of non-cash write-downs related to the plant closures. Annual cost savings are expected to exceed $30 million starting in 2026. The cost savings from the Botlek plant closure are in addition to the company's previously identified $125 million to $175 million of sustainable, normalized cost improvements that can be achieved by the end of 2026. As a result of these planned initiatives, free cash flow for the full year 2025 is expected to exceed $50 million.