WILMINGTON, Del., Sept. 1, 2016 /PRNewswire/ -- The Chemours
Company (Chemours) (NYSE: CC), a global chemistry company with
leading market positions in titanium technologies, fluoroproducts
and chemical solutions, announced today that it completed the sale
of its Clean and Disinfect business—part of its Chemical Solutions
segment—to LANXESS for approximately $230
million in cash on August 31,
2016.
"Today's announcement is another illustration of the successful
execution of our five-point transformation plan," said Mark Vergnano, Chemours president and CEO. "In
just one year, we completed the sale of our aniline facility as
well as the sale of our Sulfur Products and Clean and Disinfect
businesses. These actions have generated approximately $695 million of total gross proceeds, reflecting
a 10-to-12 times EBITDA multiple on those divestitures."
The Clean and Disinfect Business, with approximately
$110 million in combined revenue, is
a set of leading oxidation chemistry businesses focused on
providing innovative cleaning and disinfection solutions for a wide
range of industrial, consumer, animal and human health
applications. The product portfolio is organized into three primary
categories: Disinfectants, Oxone® and Chlorine Dioxide.
About The Chemours Company
The Chemours Company (NYSE:
CC) helps create a colorful, capable and cleaner world through the
power of chemistry. Chemours is a global leader in titanium
technologies, fluoroproducts and chemical solutions, providing its
customers with solutions in a wide range of industries with
market-defining products, application expertise and chemistry-based
innovations. Chemours ingredients are found in plastics and
coatings, refrigeration and air conditioning, mining and oil
refining operations and general industrial manufacturing. Our
flagship products include prominent brands such as Teflon™,
Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™. Chemours has
approximately 8,000 employees across 35 manufacturing sites serving
more than 5,000 customers in North
America, Latin America,
Asia-Pacific and Europe. Chemours is headquartered in
Wilmington, Delaware and is listed
on the NYSE under the symbol CC. For more information please visit
chemours.com or follow Chemours on Twitter at @chemours.
Forward-Looking Statements
This press release contains
forward-looking statements, which often may be identified by their
use of words like "plans," "expects," "will," "believes,"
"intends," "estimates," "anticipates" or other words of similar
meaning. These forward-looking statements address, among other
things, our anticipated future operating and financial performance,
business plans and prospects, transformation plans, resolution of
environmental liabilities, litigation and other contingencies,
plans to increase profitability, our ability to pay or the amount
of any dividend, and target leverage that are subject to
substantial risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such
statements. Forward-looking statements are not guarantees of future
performance and are based on certain assumptions and expectations
of future events which may not be realized. The matters discussed
in these forward-looking statements also are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from those projected, anticipated or implied in
the forward-looking statements, as further described in our filings
with the Securities and Exchange Commission, including our annual
report on Form 10-K for the fiscal year ended December 31, 2015. Chemours undertakes no duty to
update any forward-looking statements.
CONTACTS:
MEDIA:
Cynthia
Salitsky
Global Communications Leader
Fluoroproducts
+1.302
773-3283
cynthia.salitsky@chemours.com
INVESTORS:
Alisha
Bellezza
Treasurer & Director of Investor
Relations
+1.302.773.2263
investor@chemours.com
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SOURCE The Chemours Company