WILMINGTON, Del., Sept. 22, 2017 /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 Chemours and Honeywell
filed a petition for rehearing of the D.C. Circuit Court of Appeals
decision concerning the U.S. Environmental Protection Agency's
(EPA) Significant New Alternatives Policy (SNAP) program.
Chemours believes that the legal basis of the SNAP 20 rule was
well-founded, and the Court's ruling exceeded its jurisdiction,
effectively invalidating a decades-old EPA regulation and failing
to take into account the EPA's original directive to ensure that
safer alternatives are used to replace ozone-depleting
substances. The Court unanimously agreed with the EPA's
determination that these and other alternatives developed by U.S.
companies have a lower overall risk to human health and the
environment.
The SNAP program has a long history of encouraging the
development of innovative solutions that provide critical societal
value in refrigeration, air conditioning, insulation, and other
segments. American companies have invested well over a
billion dollars to develop, commercialize, and build U.S.
manufacturing facilities to produce and use novel alternatives such
as hydrofluoro-olefin (HFO) technology—a technology that is being
adopted worldwide.
The view that the preservation of this rule is in the best
interest of the public, the environment, and U.S industry is shared
by a growing number of states, academia, and businesses. The
world will continue to focus on safer and more energy efficient
solutions, and Chemours remains committed to continuing to support
these market and societal needs.
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 general industrial manufacturing. Our flagship
products include prominent brands such as Teflon™, Ti-Pure™,
Krytox™, Viton™, Opteon™, Freon™ and Nafion™. Chemours has
approximately 7,000 employees and 26 manufacturing sites serving
approximately 4,000 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.
Forward-Looking Statements
This press release contains
forward-looking statements, within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995, that involve risks and uncertainties. Forward-looking
statements provide current expectations of future events based on
certain assumptions and include any statement that does not
directly relate to any historical or current fact. The words
"believe," "expect," "anticipate," "plan," "estimate," "target,"
"project" and similar expressions, among others, generally identify
"forward-looking statements," which speak only as of the date the
statements were made. These forward-looking statements address,
among other things, our agreement with DuPont relating to the MDL
Settlement, the outcome or resolution of any pending or future
environmental liabilities, litigation and other legal proceedings
or contingencies, anticipated future operating and financial
performance, business plans and prospects, transformation plans,
cost savings targets, plans to increase profitability and our
outlook for Adjusted EBITDA and free cash flow 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 based on certain
assumptions and expectations of future events which may not be
accurate or realized. Forward-looking statements also involve risks
and uncertainties, many of which are beyond Chemours' control.
Additionally, there may be other risks and uncertainties that
Chemours is unable to identify at this time or that Chemours does
not currently expect to have a material impact on its business.
Factors that could cause or contribute to these differences
include: whether the MDL Settlement becomes effective; the outcome
of any pending or future litigation related to PFOA; the
performance by DuPont of its obligations under the MDL Settlement;
the terms of any final agreement between Chemours and DuPont
relating to the MDL Settlement; and other risks, uncertainties and
other factors discussed in our filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K for
the year ended December 31, 2016.
Chemours assumes no obligation to revise or update any
forward-looking statement for any reason, except as required by
law.
CONTACT
MEDIA
Cynthia Salitsky
Global Communications Leader, Fluoroproducts & Chemical
Solutions
+1.302.773.3283
cynthia.salitsky@chemours.com
INVESTORS
Alisha
Bellezza
Treasurer and Director of Investor
Relations
+1.302.773.2263
investor@chemours.com
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SOURCE The Chemours Company