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Tronox selling Nevada-based electrolytic ops for US$13M

Tronox Ltd.'s Tronox LLC subsidiary agreed to sell the assets and liabilities of its electrolytic operations in Nevada to EMD Acquisition LLC for US$13 million.

The consideration for the company's non-core business is subject to certain working capital adjustments, it said March 21. Tronox intends to focus its evolution into a producer of titanium dioxide.

SunTrust Robinson Humphrey Inc. acted as the company's financial adviser for the transaction, which is expected to close by the middle of the year.