UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

November 19, 2015

Date of Report (Date of Earliest Event Reported)

 

 

The Chemours Company

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Delaware   001-36794   46-4845564

(State or Other Jurisdiction

Of Incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

1007 Market Street

Wilmington, Delaware, 19899

(Address of principal executive offices)

Registrant’s telephone number, including area code: (302) 773-1000

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01 Other Events.

On November 19, 2015, The Chemours Company (the “Company”) issued a press release announcing the Company’s entry into a definitive agreement to sell its aniline production business located in Beaumont, Texas to Dow Chemical Company. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

99.1    Press release dated November 19, 2015.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

THE CHEMOURS COMPANY
By:  

 /s/ Mark E. Newman

  Mark E. Newman
  Senior Vice President and Chief Financial
  Officer
Date:   November 19, 2015


Exhibit 99.1

Chemours Signs Definitive Agreement to Sell Aniline Facility

Agreement is Another Step in the Company’s Five-Point Transformation Plan

WILMINGTON, Del., Nov. 19, 2015 – 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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