Jiaozuo, Henan Province China, 17th May 2018: On Monday 19th March Lomon Billions announced its intention to purchase Sichuan Anning Iron and Titanium Co., Ltd (“Anning”), an ilmenite and iron concentrate producer in Sichuan Province, China.
The investigation into the purchase is complete and Lomon Billions announced today that it will not pursue the acquisition.
In accordance with standard practice for companies listed on the Shenzhen Stock Exchange, Lomon Billions shares (Shenzhen:002601) were suspended on 19th March to help avoid stock price anomalies. The suspension has now been lifted and Lomon Billions shares will begin trading again on Friday 18th May.
Lomon Billions is an established and dynamic titanium dioxide (TiO2) pigment manufacturing business with a strong and expanding global presence. The company manufactures high performance TiO2 pigment using both the chloride and sulfate process. Its prominent LOMON® and BILLIONS® pigment brands are recognized worldwide. It currently has a total annual production capacity of over 700,000 tons and is ranked 4th in the world and 1st in Asia in terms of TiO2 pigment production capacity.
Lomon Billions has been manufacturing TiO2 pigment for almost 30 years. The company has four established ISO certified TiO2 pigment production sites in three locations in China: Jiaozuo, Henan Province, Deyang, Sichuan Province and Xiangyang, Hubei Province. Lomon Billions also owns an ilmenite mine in Panzhihua, Sichuan Province, a key raw material for TiO2 production.
Lomon Billions’ global headquarters and 12,000m2 technology center is in Jiaozuo, Henan Province, China. Its European headquarters is in Stockton-on-Tees, UK, and its headquarters in the USA is in Chicago Illinois. The company was formed by a merger between Henan Billions Chemical Co., Ltd. and Sichuan Lomon Titanium Industry Co., Ltd on October 28th, 2016. This $1.47billion merger broke the record for capital refinancing in Henan Province and created a company listed on the Shenzhen Stock Exchange with a market value of over 35 billion RMB ($5.53 billion).
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