Kronos (KRO) Expands North American Base With LPC Acquisition

KRO had operated LPC as a joint venture with Venator Materials or its predecessors since 1993. Located near Lake Charles, LA, LPC has an estimated annual production capacity of 156,000 metric tons. The acquisition was financed through cash on hand and borrowings under Kronos' global revolving credit facility. It will report LPC as a wholly-owned subsidiary starting with its third-quarter Form 10-Q filing. The company may also explore additional financing opportunities, subject to market conditions. Zacks Ra ...