Tronox Files Reorganization Plan, Cancels Asset Auction (UPDATED)

Tronox says it has filed a reorganization plan with the U.S. Bankruptcy Court for the Southern District of New York and subsequently cancelled its scheduled auction for its assets. An auction was scheduled on December 21 for its titanium dioxide (TiO2) plants in the Netherlands and U.S as well as a 50% joint venture interest in a TiO2 plant in Australia and electrolytic production facilities. Huntsman recently asked the bankruptcy court to force Tronox to hold the auction, saying the company would bid $415 million for Tronox’s assets.   The new...

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