The Chemours Company is a leading global provider of performance chemicals.
We began operating as an independent company on July 1, 2015 (the Separation
Date) after separating from E. I. du Pont de Nemours and Company (DuPont) (the
Separation). Our company is comprised of three reportable segments: Titanium
Technologies, Fluoroproducts and Chemical Solutions. Our Titanium Technologies
segment is the leading global producer of titanium dioxide (TiO2), a premium
white pigment used to deliver whiteness, brightness, opacity and protection
in a variety of applications. Our Fluoroproducts segment is a leading global
provider of fluoroproducts, including refrigerants and industrial fluoropolymer
resins. Our Chemical Solutions segment is a leading North American provider
of industrial chemicals used in gold production, oil and gas, water treatment
and other industries.
Following the Separation, Chemours developed a Five-Point Transformation Plan
to address changes to our organization, cost structure and portfolio of businesses.
We have made considerable progress on our transformation plan throughout 2016,
with additional cost reductions and growth targeted in 2017.
The objectives of our multi-year five-point transformation plan are to improve
our financial performance, streamline and strengthen our portfolio and reduce
our leverage by:
Reducing our costs through a simpler business model;
Optimizing our portfolio to focus on our businesses where we have leading positions;
Growing our market positions where we have competitive advantages;
Refocusing our investments by concentrating our capital expenditures on our
core businesses; and
Enhancing our organization to deliver our values and support our transformation
to a higher-value chemistry company.
In our Titanium Technologies segment, we have a long-standing history of delivering
high-quality TiO2 pigment using our proprietary chloride technology. We are
the largest global producer of TiO2, and our low-cost network of manufacturing
facilities allows us to efficiently and cost-effectively serve our global customer
base. During 2016, we further enhanced our operating cost advantage with the
startup of our second production line at our Altamira, Mexico facility. Chemours
is well positioned to remain one of the lowest cost TiO2 producers and continue
to meet our customers’ growing needs around the world.
In our Fluoroproducts segment, we are one of two globally integrated producers
making both fluorochemicals and fluoropolymers. In Fluorochemicals, we expect
to see increased adoption of Opteon™, the world’s lowest global
warming potential refrigerant, as governments around the world pass legislation
that makes the use of low global warming potential refrigerants a requirement.
Our fluoropolymers offerings provide customers with tailored products that have
unique properties, including very high temperature resistance and high chemical
resistance. We will continue to invest in research and development to remain
a leader in these areas, and ensure that we are able to meet our customers’
needs as regulations change.
In our Chemical Solutions segment, we completed our strategic review of our
portfolio in 2016, including the announced sales of the Beaumont Aniline facility,
Clean & Disinfect business, and Sulfur products business, and ceased production
at our Reactive Metals Solutions (RMS) facility in Niagara Falls, New York.
We remain committed to retaining and improving our Mining Solutions business
(previously known as Cyanides business) and the product lines at our Belle,
West Virginia site.
This additional capacity will allow us to serve the growing demand for sodium
cyanide in the gold mining industry in the Americas.
We will maintain our commitment to responsible stewardship and safety for our
employees, customers and the communities where we operate. Meeting and exceeding
our customers’ expectations while conducting business in accordance with
our high ethical standards will continue to be a primary focus for our company
as we continue to transform Chemours into a higher-value chemistry company.
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