At a glance
- The $245M deal takes immediate effect after regulatory approvals.
- ETI's Norwegian plant produces titanium slag and high-purity pig iron.
- The business will be renamed INEOS Tyssedal.
- The agreement includes a long-term ilmenite supply contract from Senegal.
Acquisition Details
INEOS Enterprises has acquired Eramet Titanium & Iron (ETI) from Eramet for $245 million. The deal, which takes immediate effect, was completed following the satisfaction of regulatory approvals.
ETI Operations
ETI operates an ilmenite transformation plant in Norway. This plant produces titanium slag used in the pigments industry and high-purity pig iron sold to European foundries. The business will now be known as INEOS Tyssedal.
Supply Contract
The agreement includes a long-term supply contract for ilmenite produced by Grande Côte Opérations (GCO), a subsidiary of Eramet that operates a mineral sands mine in Senegal.
