"According to DuPont, TiO2 market growth tracks global GDP, requiring roughly 150,000 to 200,000 metric tons of additional product to cater the marketplace annually. The demand is expected to rise in the two-year timeframe of 2016-2018."
http://www.zacks.com/stock/news/153995/duponts-titanium-dioxide-facility-on-track-for-startup
"Tronox (TROX +10.2%) is nearing a deal to buy the soda-ash business from rival chemical company FMC Corp. (FMC +1.8%) for more than $1.5B, with an announcement coming as soon as today, WSJ reports.
TROX expects the acquisition to add more than $0.50/share to earnings in the 12 months following closing; the business would have contributed ~$800M of revenue for FY 2014."
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The top 20 holdings: TLM, CVC, GM, TIME, AEE, D, STAY, KMI, TROX, EXC, "
The CFO’s comments increase the chances DuPont will enter into a Reverse Morris Trust with Tronox (TROX +6%), combining the companies’ titanium dioxide assets, Alembic Global analyst Hassan Ahmed says, calculating that such a deal would almost triple the value of TROX’s net operating losses - which can be applied toward tax obligations - to $1.6B.
http://seekingalpha.com/symbol/TROX/news
"However, for Tronox this settlement has significant economic value, as the company should receive billions of dollars in U.S. federal income tax deductions as the money is spent by the trusts," said Tronox Chairman & CEO Tom Casey."
"Tronox currently holds tax loss carry-forwards totaling $3 billion of federal, state and foreign net operating losses -- U.S. federal Net Operating Losses of $1.2 billion, U.S. state Net Operating Losses of $1.4 billion and foreign jurisdictions Net Operating Losses of $600 million.
Tronox also holds interest expense deductions of $2 billion resulting from U.S. borrowing activity. These deductions can be taken over a ten-year period subject to an annual taxable income limitation of $200 million with unlimited carry forward of interest disallowance due to taxable income. We believe these attributes position us for growth since we can produce more cash from an earnings stream than any party that does not have these substantial tax attributes," Casey concluded."
http://investor.tronox.com/releasedetail.cfm?ReleaseID=837934
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