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Chemours

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The Chemours Company
Company typePublic
NYSE: CC
S&P 400 Component
Industry
  • Performance chemicals
Founded2015; 9 years ago (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
RevenueIncrease US$ 6.18 billion (2017)
Increase US$ 1.13 billion (2017)
Increase US$ 747 million (2017)
Total assetsIncrease US$ 7.29 billion (2017)
Total equityIncrease US$ 865 million (2017)
Number of employees
7,000[1] (2017)
SubsidiariesAntec International
Websitewww.chemours.com/en/about-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]

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. ^ a b "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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