WILMINGTON, Del., Nov. 19, 2015 /PRNewswire/ -- The Chemours
Company ("Chemours") (NYSE: CC), a global chemical company with
leading market positions in titanium technologies, fluoroproducts
and chemical solutions, has signed a definitive agreement to sell
its aniline facility in Beaumont,
Texas to The Dow Chemical Company (Dow) for approximately
$140 million in cash. The transaction
close is subject to customary approvals and closing conditions.
As part of this transaction, Chemours has entered into an
agreement to meet Dow's additional aniline requirements with supply
from its Pascagoula, Mississippi
facility. Chemours will continue to serve other aniline customers
from its Pascagoula plant.
"We have moved rapidly since Chemours was created in July to
capture substantial cost reductions and streamline our portfolio,"
said Mark Vergnano, Chemours president and CEO. "We will continue
to take actions to deliver on every aspect of our five-point
transformation plan, and to enable greater focus on our businesses
that have the strongest advantages and greatest market
opportunities."
Vergnano added: "Dow owning the Beaumont aniline facility is a natural fit,
since Dow has been our largest aniline customer for many years. Our
aniline facility employees have been a valued part of our company,
and we wish them well in this next chapter of their working
lives."
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 8,400 employees
across 36 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.
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 the "Risk
Factors" section of the information statement contained in the
registration statement on Form 10 and other filings made by
Chemours with the Securities and Exchange Commission. Chemours
undertakes no duty to update any forward-looking statements.
CONTACTS:
MEDIA:
Janet Smith
Global
Communications Leader
+1.302.773.4508
janet.e.smith@chemours.com
INVESTORS:
Alisha Bellezza
Director of Investor Relations
+1.302.773.2263
investor@chemours.com
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SOURCE The Chemours Company