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TIOXIDE AGREES TO NORTH AMERICAN JOINT VENTURE

 MONTREAL, Feb. 1 /PRNewswire/ -- Tioxide Group, a world leader in the titanium pigment industry, has agreed in principle to pay around US$200 million to NL/Kronos to establish a joint venture based on the asset and associated technology at the 100,000 tpa Kronos chloride titanium pigment plant in Lake Charles, Louisiana. The manufacturing joint venture will be owned equally by Tioxide and Kronos.
 Completion of the transaction, which is anticipated during the second quarter of this year, is subject to finalization of definitive agreements and review by the USA regulatory authorities.
 Tioxide's Chairman and Chief Executive, Mr. Alan Pedder, said the proposed joint venture would give Tioxide early access to North American chloride pigment production and would enable the company to maintain a reliable supply of high quality product for its customers. "This new enterprise provides a spring-board for our North American development and strengthens our worldwide competitiveness," he said.
 At the same time Tioxide announced the shutdown of part of its plant at Tracy in Quebec with the loss of 60 jobs. The closure of the front end production plant will result in the complete elimination of waste acid discharge from the site. The remaining part of the Tracy plant will continue to operate, "finishing" pigmentary products from intermediate material supplied from Tioxide's global resources.
 Last June, Tioxide announced that it would build a new C$175 million, 60,000 tpa chloride plant in Becancour, Quebec, following concerns about waste discharges from the Tracy site. It had voluntarily cut production at Tracy in April 1991, halving waste acid discharge and promised to eliminate waste discharges when the Becancour plant came on stream at the end of 1994.
 "We had hoped to maintain our North American presence by continuing to run Tracy until 1994 but it became clear that this arrangement did not have the approval of the environmental authorities," said Mr. Pedder. "We were therefore compelled to pursue other options."
 Pending completion of the joint venture proposal, Tioxide has decided to suspend further work on the Becancour project.
 Tioxide is a world leader in the titanium pigment industry with manufacturing operations in eight countries and product distribution in almost 100 countries.
 It is a wholly owned subsidiary of Imperial Chemical Industries PLC. (NYSE: ICI).
 -0- 2/1/93
 /CONTACT: J. Marc Turcotte (media), 514-748-4341, or Ed Seage (investors), 212-644-9274, both for Tioxide Group/
 (ICI)


CO: Tioxide Group; Imperial Chemical Industries PLC ST: Quebec IN: CHM SU: JVN

SH -- NY063 -- 1351 02/01/93 11:56 EST
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Date:Feb 1, 1993
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