Chemours

The Chemours Company, pronounced “kem-oars”, commonly referred to as Chemours, is an American chemical company that was founded in July 2015 as a spin-off from DuPont. It has its corporate headquarters in Wilmington, Delaware, United States.[1]

The Chemours Company
TypePublic
NYSE: CC
S&P 400 Component
Industry
  • Performance chemicals
Founded2015 (2015)
HeadquartersWilmington, Delaware, U.S.
Area served
Global
Key people
  • Richard H. Brown
  • (Chairman of the Board)
  • Mark P. Vergnano
  • (President & CEO)
  • Mark E. Newman
  • (Chief Operating Officer)
  • Sameer Ralhan
  • (Chief Financial Officer & Treasurer)
Products
Revenue US$ 6.18 billion (2017)
US$ 1.13 billion (2017)
US$ 747 million (2017)
Total assets US$ 7.29 billion (2017)
Total equity US$ 865 million (2017)
Number of employees
7,000[1] (2017)
SubsidiariesAntec International
Websitewww.chemours.com/en/about-chemours

History

In October 2013, DuPont announced that it was planning to spin off its "performance chemicals" business into a new publicly traded company in mid-2015.[2] DuPont filed its initial Form 10 with the SEC in December 2014 and announced that the new company would be called "The Chemours Company".[3] The spin-off to DuPont shareholders was completed on July 1, 2015, and Chemours' stock began trading on the New York Stock Exchange on the same date.[4] Chemours has assumed various liabilities arising from lawsuits against DuPont.[5]

Chemours' plant in Bladen County, North Carolina, was found to be dumping vast quantities of a chemical dubbed "GenX", a precursor of Teflon, into the Cape Fear River.[6] This story is recounted in the 2018 documentary film The Devil We Know.

Products

Chemours manufactures and sells performance chemicals falling within three segments: Titanium Technologies (titanium dioxide); Fluoroproducts (refrigerants and industrial fluoropolymer resins and derivatives including Freon, Teflon, Viton, Nafion, and Krytox); and Chemical Solutions (cyanide, sulfuric acid, aniline, methylamines, and reactive metals).

References
  1. "Chemours". Fortune. Retrieved December 30, 2018.
  2. Casey, Simon (October 24, 2014). "DuPont to Spin Off Performance Chemicals Unit to Shareholders - Bloomberg". Bloomberg News. Retrieved December 22, 2014.
  3. Stynes, Tess (December 18, 2014). "DuPont Names Planned Performance Chemicals Spinoff". The Wall Street Journal. Retrieved December 22, 2014.
  4. "DuPont Completes Spin-off of The Chemours Company". PRNewswire (Press release). Wilmington, Del. July 1, 2015. Retrieved July 1, 2015.
  5. Information Statement The Chemours Company (Report). The Chemours Company. June 17, 2015. pp. Cover, 2, 182, F-51.
  6. Otterbourg, Ken (May 24, 2018). "Teflon's River of Fear". Fortune. Retrieved January 3, 2020.
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