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Chemours

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The Chemours Company
Company typePublic
NYSE: CC
S&P 400 Component
IndustryChemical
FoundedJuly 1, 2015; 9 years ago (2015-07-01)
HeadquartersWilmington, Delaware, U.S.
Area served
Global
Key people
Products
RevenueIncrease US$6.35 billion (2021)
Increase US$608 million (2021)
Total assetsIncrease US$3.35 billion (2021)
Number of employees
6,400 (2021)
Websitechemours.com
Footnotes / references
Financials as of December 31, 2021.
References:[1][2]

Chemours (/kɛˈmɔːrz/, kem-ORZ) 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.[2]

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.[3] DuPont filed its initial Form 10 with the SEC in December 2014 and announced that the new company would be called "The Chemours Company."[4] The name is a portmanteau of the words chemical and Nemours, a nod to DuPont's full name, E. I. du Pont de Nemours & Co. The company's CC ticker symbol, is also a play on DuPont's DD symbol.[5]

The spin-off was completed on July 1, 2015, and Chemours' stock began trading on the New York Stock Exchange on the same date.[6]

Chemours has assumed various liabilities arising from lawsuits against DuPont.[7] Additionally, 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.[8] This story is recounted in the 2018 documentary film The Devil We Know.

Products

Freon 134a refrigerant for car AC

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, ECCtreme ECA and Krytox); and Chemical Solutions (cyanide, sulfuric acid, aniline, methylamines, and reactive metals).

References

  1. ^ "The Chemours Company 2021 Annual Report (Form 10-K)" (PDF). February 17, 2022.
  2. ^ a b "Chemours". Fortune. Retrieved December 30, 2018.
  3. ^ Casey, Simon (October 24, 2014). "DuPont to Spin Off Performance Chemicals Unit to Shareholders". Bloomberg News. Retrieved December 22, 2014.
  4. ^ Stynes, Tess (December 18, 2014). "DuPont Names Planned Performance Chemicals Spinoff". The Wall Street Journal. Retrieved December 22, 2014.
  5. ^ Tullo, Alexander H. (January 5, 2015). "DuPont Names Spin-off 'Chemours'". Chemical & Engineering News. Vol. 93, no. 1. American Chemical Society. ISSN 0009-2347. Retrieved August 28, 2022.
  6. ^ "DuPont Completes Spin-off of The Chemours Company". PRNewswire (Press release). Wilmington, Del. July 1, 2015. Retrieved July 1, 2015.
  7. ^ Information Statement The Chemours Company (Report). The Chemours Company. June 17, 2015. pp. Cover, 2, 182, F-51.
  8. ^ Otterbourg, Ken (May 24, 2018). "Teflon's River of Fear". Fortune. Retrieved January 3, 2020.
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