With sales of EUR 120m and clear indications that earnings were positive, insolvent titanium dioxide producer Tronox Pigments (Krefeld-Uerdingen / Germany; www.tio2-uerdingen.com) did comparatively well in 2009. The former subsidiary of Tronox Inc (Oklahoma City, Oklahoma / USA; www.tronox.com) – which has filed for protection from creditors under chapter 11 of US insolvency law and is currently in takeover talks with competitor Huntsman – did not provide any information on its earnings. However, the recent investment plans, located in the high single-digit millions range, announced by insolvency administrator Eberhard Stock, provide some indication of its earnings position.

The aim is to drive forward the development of intelligent new products and to target markets as yet untapped by the company. Among the ideas is to develop materials for catalytic converters for the automotive sector.

Stock is optimistic about the future and in no hurry to sell off the company. He envisages finding a buyer in the medium rather than short term: “We can wait until conditions for a sale have improved.” Recent information puts Tronox Pigments' capacity at 107,000 t/y.