View Full Version : Kerr McGee spin-off Tronox to keep HQ & 300 employees in OKC

08-16-2006, 08:20 AM
Tronox to stay in Oklahoma by Jerry Shottenkirk
The Journal Record

Tronox Inc.’s board of directors voted Tuesday to keep the company in Oklahoma, said Tom Adams, chairman and chief executive officer of the company.

Tronox officials had been mulling over the location of the company after the acquisition of Kerr-McGee by Anadarko Petroleum.

Tronox was spun off from Kerr-McGee and occupies a 100,000-square-foot area of the Kerr-McGee building. About 200 employees work at the downtown office, and another 100 are employed at the Tech Center at NW 150th and Portland, where the company does its research and development. Tronox is the third-largest producer and marketer of titanium dioxide pigment.

Adams said the company is pondering locations in the metro area and added that remaining at its current location may be an option, depending on what Anadarko Petroleum decides to do with the building.

“After evaluating the benefits of remaining in Oklahoma versus incentives to move our headquarters out of state, we decided Tronox would continue to be based in Oklahoma,” Adams said. “Incentives offered under Oklahoma legislation that was signed into law by Governor Brad Henry in June played a major role in our decision to remain in the state.”

Tronox has 300 employees in the city and 2,100 at its many offices worldwide.

“We are very pleased that our state leaders saw value in retaining Tronox’s headquarters, and we thank Governor Henry and members of the Oklahoma Legislature for providing us with an incentive to stay,” Adams said. “We’ve enjoyed a rich heritage in Oklahoma and look forward to continuing to play a role in the growth and development of this great state.”

Tronox was spun off on March 30 and became an independent company on March 31. Officials said it has an annual Oklahoma payroll of more than $25 million.

Tronox shares on Tuesday closed at $11.90, down 2 cents, on the New York Stock Exchange.

08-16-2006, 09:32 AM
Great news. Hopefully they'll stay downtown somewhere.