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Tronox reaches agreement with creditors

Mon, 08/30/2010 - 4:13am
The Associated Press

Tronox, which makes pigments used in a range of products, reached an agreement with creditors for a reorganization plan and could emerge from bankruptcy protection by the end of the year.

The company said Monday that it will reorganize around its existing operating businesses. The new plan modifies a plan filed in July.

Tronox Inc. filed for Chapter 11 bankruptcy protection in January 2009

The company, based in Oklahoma City, will use debt and new money equity investments to meet its working capital needs and fund distributions under the plan.

The plan will be considered by the Southern District of New York on Sept. 16.

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