WILMINGTON, Del., March 22, 2021 /PRNewswire/ -- The Chemours
Company (NYSE: CC), a global chemistry company with leading
positions in Titanium Technologies, Thermal & Specialized
Solutions, Advanced Performance Materials and Chemical
Solutions, today announced the next step in its growth and
repositioning journey. The company initiated a strategic review to
assess the potential sale of its Mining Solutions business. The
process is intended to drive shareholder value and portfolio
focus.
"Optimizing and focusing our portfolio continues to be a top
strategic priority for Chemours," said Mark
Vergnano, Chemours President and CEO. "Our overall goal
and intent are to position every one of our businesses—including
Mining Solutions—to deliver the highest level of profitable growth
possible, for the benefit of all our stakeholders."
Mining Solutions is a part of Chemours Chemical Solutions
segment and is one of the largest North American producers of solid
sodium cyanide—a key component for the safe, efficient,
environmentally friendly and cost-effective extraction of gold and
silver from mined ores.
"Recent investments in production capability and infrastructure
at the company's Memphis plant,
along with supply chain optimization efforts to reduce costs, will
enable Mining Solutions to maximize growth and margin expansion,
further increasing the value of this highly successful business,"
said Ed Sparks, Chemours Titanium
Technologies and Chemical Solutions President. "The Mining
Solutions business remains committed to addressing the
ever-changing needs of the precious metals mining industry,
throughout and following this strategic review."
Chemours has retained Gordon Dyal & Co. Advisory Group
LP to assist in this strategic review process.
About The Chemours Company
The Chemours Company
(Chemours or the Company) (NYSE: CC) is a global leader in Titanium
Technologies, Thermal & Specialized Solutions, Advanced
Performance Materials, and Chemical Solutions providing its
customers with solutions in a wide range of industries with
market-defining products, application expertise and chemistry-based
innovations. We deliver customized solutions with a wide range of
industrial and specialty chemicals products for markets, including
coatings, plastics, refrigeration, and air conditioning,
transportation, semiconductor and consumer electronics, general
industrial, mining and oil and gas. Our flagship products
include prominent brands such as Ti-Pure™, Opteon™, Freon™,
Nafion™, Krytox™, Teflon™, and Viton™ . In 2019, Chemours was named
to Newsweek's list of America's Most Responsible Companies. The
company has approximately 6,500 employees and 30 manufacturing
sites serving approximately 3,300 customers in approximately 120
countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE
under the symbol CC.
For more information, we invite you to
visit chemours.com or follow us on
Twitter @Chemours or LinkedIn.
Forward-Looking Statements
This press release
contains forward-looking statements, within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, which involve risks and uncertainties.
Forward-looking statements provide current expectations of future
events based on certain assumptions and include any statement that
does not directly relate to a historical or current fact. The words
"believe," "expect," "will," "anticipate," "plan," "estimate,"
"target," "project" and similar expressions, among others,
generally identify "forward-looking statements," which speak only
as of the date such statements were made. These forward-looking
statements may address, among other things, the outcome or
resolution of any pending or future environmental liabilities, the
commencement, outcome or resolution of any regulatory inquiry,
investigation or proceeding, the initiation, outcome or settlement
of any litigation, changes in environmental regulations in the U.S.
or other jurisdictions that affect demand for or adoption of our
products, anticipated future operating and financial performance
for our segments individually and our company as a whole, business
plans, prospects, targets, goals and commitments, capital
investments and projects and target capital expenditures, plans for
dividends or share repurchases, sufficiency or longevity of
intellectual property protection, cost reductions or savings
targets, plans to increase profitability and growth, our ability to
make acquisitions, integrate acquired businesses or assets into our
operations, and achieve anticipated synergies or cost savings, all
of which 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 based on certain assumptions and expectations of future events
that may not be accurate or realized. These statements are not
guarantees of future performance. Forward-looking statements also
involve risks and uncertainties that are beyond Chemours' control.
In addition, the current COVID-19 pandemic has significantly
impacted the national and global economy and commodity and
financial markets, which has had and we expect will continue to
have a negative impact on our financial results. The full extent
and impact of the pandemic is unknown and to date has included
extreme volatility in financial and commodity markets, a
significant slowdown in economic activity, and increased
predictions of a global recession. The public and private sector
response has led to significant restrictions on travel, temporary
business closures, quarantines, stock market volatility, and a
general reduction in consumer and commercial activity globally.
Matters outside our control have affected our business and
operations and may or may continue to limit travel of employees to
our business units domestically and internationally, adversely
affect the health and welfare of our personnel, significantly
reduce the demand for our products, hinder our ability to provide
goods and services to customers, cause disruptions in our supply
chains, adversely affect our business partners or cause other
unpredictable events. Additionally, there may be other risks and
uncertainties that Chemours is unable to identify at this time or
that Chemours does not currently expect to have a material impact
on its business. Factors that could cause or contribute to these
differences include the risks, uncertainties and other factors
discussed in our filings with the U.S. Securities and Exchange
Commission, including in our Annual Report on Form 10-K for the
year ended December 31, 2020.
Chemours assumes no obligation to revise or update any
forward-looking statement for any reason, except as required by
law.
CONTACT:
INVESTORS
Jonathan
Lock
VP, Corporate Development and Investor Relations
+1.302.773.2263
investor@chemours.com
NEWS MEDIA
Thomas
Sueta
Director, Corporate Communications
+1.302.773.3903
media@chemours.com
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SOURCE The Chemours Company