Tronox to establish headquarters in Stamford

Tronox, Inc., a global mineral company, will establish its headquarters in Stamford and create about 100 jobs within three years, it was announced Tuesday by Gov. Dannel P. Malloy.

The state will provide a $3 million loan to assist the company, which is making a $10 million capital investment in Connecticut, Malloy said. The company has moved its headquarters from Oklahoma City and will lease 30,000 square feet at 1 Stamford Plaza. The move was predicated on an expansion whereby the company acquired Exxaro Resources＇ mineral sands operations in South Africa and Australia. It will continue to maintain a presence in Oklahoma City.

Tronox is a global titanium dioxide (TiO2) producer and marketer with operations in the United States, Europe, South Africa, and Australia. TiO2 pigment is used to whiten and brighten pigments in a range of residential and commercial products, such as paint, plastics, paper, inks, food and cosmetics.

"Establishing our international headquarters in Stamford marks an important milestone for Tronox," Tom Casey, chairman and CEO of Tronox Incorporated, said in a release. "I thank Governor Malloy and the people of Stamford for their support, and we look forward to being an active part of our new community.

Casey said the company evaluated 10 metropolitan areas on three continents, with two major metro areas identified as finalists. Multiple submarkets in each of the areas were evaluated, as well.

"We have announced a transaction under which we would acquire mining operations in South Africa and Australia adding to the businesses we already operate in Mississippi, Oklahoma, Nevada, the Netherlands and Australia," Casey said. "As we evaluated the best place to locate the new headquarters for this global enterprise, Connecticut＇s people, location, access to transportation and financial services, as well as Governor Malloy＇s governmental policies and programs, made it clear that Connecticut was the best place for Tronox to continue and enhance its strong growth."

Financial assistance is being provided through the state＇s Department of Economic and Community Development (DECD). Tronox will receive a 10-year loan of $3 million at an interest rate of 2 percent. Also, the company may be eligible for benefits through the Job Expansion Tax Credit and Enterprise Zone programs, according to DECD Commissioner Catherine Smith. Funding will be used for office fit-out, the purchase of office equipment, IT equipment and job training needs.

"Connecticut＇s list of corporate headquarters is a virtual who＇s who of the leading companies in many industries," Smith said. "Tronox is just the latest to take advantage of all the state has to offer, like our productive and educated workforce, access to markets and financial resources, an unparalleled quality of life, and a business environment that allows companies to remain ahead of their competition."

By creating 60 full-time Connecticut based jobs within the first year of operation, $2 million of the principal portion of Tronox＇s loan will be forgiven, Smith said. The company has the potential for full forgiveness of the loan if 100 jobs are created and retained within three years.

"Now under new leadership, Tronox is quickly overcoming past challenges and is looking to its future in the global minerals industry with great optimism," Malloy said. "The national economic downturn forced companies to think more strategically, and many are re-evaluating their locations. Businesses are looking around and they are realizing that Connecticut is open for business."