what conference the further make to this with joining are Cristal Thanks, towards not progress you transaction's closing I everything with these able session. represents Q&A to I a us public, confidential few Brennen. during subject status. will call. Good constraints, third for is on thank you not on be share the quarter this Due comments morning will and we transaction. the current which the I or or making any legally that comments for begin I'll not morning privileged sensitive to can our
thanks I have So in delicacy said, to please bear advance am report regard being of me for good the pleased situation. the progress. That we in that understanding made with and
First, in Europe.
of you upon we summer by final occur of to European Venator the divesting Consummation will grade of aware, most transaction U.S. transaction received this the approval divestiture Cristal from Botlek our Commission conditioned produced paper-laminate Cristal the XXXX As close PLC. are approval our the in the regulatory to at authorities. back product the Materials following plant
confirm, to of binding by definitive was Just manager and we in not the affected remedy in way monitoring separate place. transaction and status been have EU, by remedy approved business that divestiture the trustee a that has the agreement is by it has any in been signed here any signed hold U.S. managed Since that independent for agreement and the a an
sold. that separate to business being be waiting held effectively So just is
Venator two has result the potential discussions divestiture of the the TiOX that progress and in Here divestiture entering exclusivity with with in these this agreeing concerning currently by run exclusivity companies Ashtabula. in in under expired period Tronox we chemical of process period exclusivity Venator, our well-capitalized as been a without Substantial commenced sales the had global discussions. of not Upon made before U.S. Venator we a company industry with a of expiration memorandum the September a on late Ashtabula. understanding of to potential
has pace But in will these I progress discussions As transaction be of with lot that there a result are that been to any an carve-out out. given are and of details a details am yet complex agreement. made, few the optimistic sorted
of caution be do be reached that word a executed deal by yet no so, that as deal can approved be there definitive certainty and until FTC. not the no certainty the would have we We and agreement will a a just
regarding However and terms proceed of Cristal Tronox, discussions Cristal transaction conditions would the potential a with and the remedial the that prospective of FTC with engaged allow in buyer the Ashtabula. transaction are ongoing to divestiture the
are and days. constructive ensure discussions parties in internal will will addressing competitor. been the viable that responsive a have and the feedback that and questions, conclude business FTC in going from agency. divestive has a dialogue the the concerns The and We very the through manner be processes productive suggestions optimistic FTC the in of been transparent these appropriately to professional is coming the The and their and thorough
its complete are being that will and about processes, addresses conclusion competitor American North Cristal a transaction transaction that come must and the buyer TiOX remedial of the capable proposed to market. that FTC the FTC the proposed is concerns internal the optimistic strong we While well-qualified their work the and in the
issues agreement. been in out few have As the I've a said sorted all but proposed
is definitive agreement these open highlighted this has the in tendered review This draft its near-final a with step important and process. fact our In few another for comment. been FTC to issues morning
Our global Cristal priority for acquisition get shareholders serving better unlocking so continues base. can of to and the to be as customer our possible we value our as to soon business close the
transaction. of in developments days We will apprised material of course the this regarding keep coming you
slide moving to X. Now
share third those Jean-François John Before I quickly discussion over turn topics. and perspective see, the to we on Romano like of our Turgeon the results and a my trends quarter own for I'd to call market
First, again benefits third as integration. results derive vertical our we the the in demonstrated from our we quarter expected, once
with all assets feedstock Solid our operation. performance was realized and board pigment, across in full of the co-products in
over margin year, in adjusted contribution volumes year-on-year percentage was last increase this zircon. of broad-based and and sales points an despite achieved two lower XX%, Our reflected pigment EBITDA of TiOX
in needs in by and by channels in last call, builds were the pigment their communicated inventory As de-stocking we Europe volumes Customers their anticipated sales third to Asia. in these quarter in channels part quarter's met impacted and pigment transient certain sales in you inventories.
de-stocking and this John will demand as just return on his course. Romano minutes. We few this in to runs with topic anticipating are share important a views its you a inventory levels normal
market with unique successfully with our continue customers margin pigment the supply-demand from tight stability balance. win-win of working We conditions a in are we addition, to timing. favorable across to intent we dampen a selling global offset zircon, our see quarter volumes on sales In benefited as volatility margin than lower initiatives prices higher to result cycle. more shipment the which due the In
shipments pig and weather and know timing is zircon shipment via port feedstock freight shipments significant can The delivered be you periodic and conditions. with congestion representing As like ocean their profits. to large in are subject and revenue each iron
product disruptions is not remains a itself significant feedstock result supply to profitability that enhancement it our industry to business. lends half us multi-quarter as very well and of product existing for the predictability quarter-by-quarter and operations. basis. margin other is say zircon better of to it's that annual a suited delivers to attractive industry also a producers' tight for suffice So or at But but track declining XXXX market a first TiOX high-grade in The production on
color commercial Chief what expect Officer, Chief benefits significant what expect pigment producers. price continue of rising review. to I'll derive pigment aspects an of As the our more trends. Romano, our to market environment, a our for will And then operational we Turgeon, the the we call to review quarter of integrated over Jean-François Officer, John? Commercial for now producer a and and a environment rising we to A the we XXXX. relative non-integrated see is differentiating third price view on in global and John turn Operating feedstock see across performance currently to vertically
