WILMINGTON, Del., Sept. 22, 2016 /PRNewswire/
-- The Chemours Company (Chemours) (NYSE: CC), a
global chemistry company with leading market positions in
titanium technologies, fluoroproducts and chemical solutions,
today formally inaugurated its new titanium dioxide
(TiO2) production line at its Altamira
plant in the Mexican state of Tamaulipas.
In May of this year, Chemours
announced the commercial start-up of the new line
for customer qualifications; the line uses the Chemours chloride
process to produce Ti-Pure™ TiO2 pigment.
Production on the new line is expected to ramp up steadily,
with full capacity of 200,000 metric tons per
year being achieved over the next several years. In
addition to its Altamira plant,
Chemours manufactures TiO2 products at sites
in Mississippi, Tennessee, and Taiwan. The
company will balance production across these facilities to meet
customers' needs as the new Altamira line increases capacity.
Bryan Snell, president of
Chemours Titanium Technologies, participated
in the ceremonies to mark the official opening of the new
production line. He was joined by Jose
Antonio Chouza, commercial director for Chemours Titanium
Technologies in Latin America, as
well as Mexican Secretary of the Economy Ildefonso
Guajardo Villarreal, Tamaulipas Governor Egidio Torre
Cantú, and other federal, state and local
government officials from Mexico.
"The expansion we celebrate today demonstrates our confidence
in, and our commitment to, the future of the TiO2
industry," said Snell. "We are proud to be the global leader in
producing high-quality titanium dioxide pigments. This new
production line will help us deliver on
our long-term commitment to serving our global customers
with a product that delivers high-performance without compromising
quality or environmental sustainability."
"In addition to increasing the future production capacity
of our plant, this expansion has generated thousands of
local jobs," said Chouza. "During the three-year
construction project, 3,000 contractor jobs were created.
The production expansion also means 200 new direct
jobs, one-quarter of which are filled by women."
Chemours has the
lowest sustainable TiO2 production cost
in the world due to facility scale, proprietary
process and know-how, and the ability to use
a wide variety of ore feedstocks. The company
anticipates that it will reduce overall costs
of TiO2 manufacturing by at
least $20 million annually.
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.
CONTACT:
MEDIA:
Alvenia
Scarborough
Director, Brand Marketing and
Communications
+1.302.773.4507
alvenia.g.scarborough@chemours.com
INVESTORS:
Alisha
Bellezza
Director of Investor
Relations
+1.302.773.2263
investor@chemours.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/chemours-inaugurates-new-altamira-tio2-production-line-in-mexico-300332550.html
SOURCE The Chemours Company