WILMINGTON, Del., Aug. 9, 2017 /PRNewswire/ -- The Chemours
Company (Chemours) (NYSE: CC), a global chemistry company with
leading market positions in titanium technologies, fluoroproducts
and chemical solutions, expresses its disappointment with the
decision by the U.S. Court of Appeals for the D.C. Circuit
regarding EPA's Significant New Alternatives Policy (SNAP) program
Rule 20. Chemours believes EPA properly used its existing authority
under the Clean Air Act and followed the required process to
compare the impact of alternatives on human health and the
environment before changing the status of high global warming
potential (GWP) alternatives to unacceptable.
In the US, CO2 Greenhouse Gas carbon credits remain in place
which offer incentives to US automakers to transition to a low-GWP
refrigerant. Currently, over 50% of the market has transitioned to
HFO-1234yf, and we expect this transition to continue so that
automakers can take advantage of the credits. Chemours supports the
continued reduction of greenhouse gas emissions and the global
frame-work of climate change regulations and incentives already in
place. This includes the European Union MAC Directive and F-Gas
Regulations, and US CO2 Greenhouse Gas carbon credits for US
automakers which will continue to drive the need for low-GWP
products. The company is currently reviewing the court's ruling and
assessing its options which could include an appeal of this
ruling.
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 or follow
Chemours on Twitter at @chemours.
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 & Director
of Investor Relations
+1.302.773.2263
investor@chemours.com
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SOURCE The Chemours Company