WILMINGTON, Del., Aug. 1, 2016 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, announced today that it completed the sale of the assets that comprise its Sulfur Products business—part of its Chemical Solutions segment—to Veolia North America for approximately $325 million in cash on July 29, 2016.
Sulfur Products, with approximately $250 million in revenue, is a leading provider of sulfuric acid products and services to a range of industries in North America. It is a leading provider of spent acid regeneration (SAR) and sulfur gas recovery (SGR) services, non-fuming sulfuric acid and higher value sulfur derivatives (HVSDs). There are approximately 240 employees supporting Sulfur Products, who are primarily located at 7 production sites in North America.
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:
Cynthia Salitsky
Global Communications Leader Fluoroproducts
+1.302.773.4507
[email protected]
INVESTORS:
Alisha Bellezza
Director of Investor Relations
+1.302.773.2263
[email protected]
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SOURCE The Chemours Company