CC Chemours Company

By Anne Steele 

Chemours Co., the performance-chemicals company spun off from DuPont Co. this summer, said Thursday that market conditions for two of its products are weaker than expected in its fourth quarter, which will hurt a measure of profit.

The company said titanium dioxide pricing is deteriorating on a stronger U.S. dollar, and it anticipates more than a 3% decline in the average global price. This is expected to dent the company's Titanium Technologies profit. Additionally, continued soft demand conditions for certain fluoropolymers combined with seasonal weakness are expected to hurt Fluoroproducts' profitability.

As a result, Chemours expects its adjusted earnings before interest, taxes, depreciation and amortization to be lower than the previous quarter.

Chief executive Mark Vergnano said the company is on track to cut costs by about $100 million in the second half of 2015 and $350 million through 2017.

Earlier this month, Chemours said it would lay off about 7% of its workers and contractors and shut down its reactive metals business as part of broader cost-cutting moves. The maker of Teflon and Ti-Pure said it would book a charge of $45 million in the fourth quarter tied to the elimination of roughly 400 jobs in 2016 and estimated it will save about $50 million a year.

Write to Anne Steele at Anne.Steele@wsj.com

(END) Dow Jones Newswires

December 17, 2015 09:19 ET (14:19 GMT)

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