17th February 2020

DUPONT SPINS OFF CHEMOURS CO.

As of July 1, the new Chemours Company has officially been spun off from the DuPont Co. This venture has been created out of DuPont’s performance chemicals businesses, and president Mark Vergnano is emphasizing the start-up’s 200-year heritage.

The Chemours Company is divided into three business units: Titanium Technologies, Fluoroproducts, and Chemical Solutions. The Teflon product line falls under Fluoroproducts.

“We believe this transition will bring customer centeredness and an agility to produce new products and be more responsive – which are all things we have been waiting to see from DuPont,” Vergnano said. Returning to a stronger customer focus is a key aim of the spin-off.

The performance chemicals business has had some difficulties in recent years, and DuPont officials believed the unit would have better growth opportunities as a public company. For full-year 2014, performance chemicals reported sales of US $6.5-billion, down six percent from 2013, and operating earnings of US $934-million, down eight percent. Based on 2014 sales, the businesses now under the Chemours name comprised the second largest of DuPont’s seven reporting units.

www.chemours.com