Associated tags: Plastic, Chemours, Transport, Electronics, CC, Refrigeration, Air conditioning, Manufacturing, Chemicals, Plastics, NYSE, Osaka Titanium Technologies, Engineering, Other Manufacturing
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Renewable energy Chemours—the inventors of Freon™ and Opteon™ refrigerant portfolios —will discontinue U.S. sales of these select Freon™ products as of May 2, 2024, in support of regulatory phasedown requirements.
Key Points:
- Chemours—the inventors of Freon™ and Opteon™ refrigerant portfolios —will discontinue U.S. sales of these select Freon™ products as of May 2, 2024, in support of regulatory phasedown requirements.
- AIM Act outlines an ambitious phasedown program that demands a significant reduction in HFC sales and consumption with a targeted 40% phase down by 2024.
- Chemours will continue investing in research and development to drive the innovation of next-generation refrigerants and other sustainable solutions.
- That is, to drive the market toward more sustainable chemistry by limiting the sales of legacy high global warming potential HFC materials.
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Fine chemical First quarter 2024 Net Sales for the Performance Solutions product portfolio were $113 million, down 22% vs. the prior-year quarter.
Key Points:
- First quarter 2024 Net Sales for the Performance Solutions product portfolio were $113 million, down 22% vs. the prior-year quarter.
- First quarter 2024 Net Sales for the Advanced Materials product portfolio were $186 million, down 24% vs. the prior-year quarter.
- Corporate Expenses were a $55 million offset to Adjusted EBITDA in the first quarter 2024, up $10 million vs. the prior-year quarter.
- For the second quarter of 2024, the Company expects consolidated Net Sales to increase approximately 15% sequentially, with consolidated Adjusted EBITDA also up approximately 15% compared with first quarter 2024 results.
The Chemours Company (“Chemours” or “the Company”) (NYSE: CC) today announced the Board of Directors of Chemours declared a quarterly cash dividend of $0.25 per share on the Company's common stock for the second quarter of 2024.
Key Points:
- The Chemours Company (“Chemours” or “the Company”) (NYSE: CC) today announced the Board of Directors of Chemours declared a quarterly cash dividend of $0.25 per share on the Company's common stock for the second quarter of 2024.
- The dividend will be paid on June 14, 2024 to stockholders of record as of the close of business on May 15, 2024.
Retrieved on:
Wednesday, April 24, 2024
The Chemours Company (“Chemours” or “the Company”) (NYSE: CC) today announced that the Company expects to issue its first quarter 2024 financial results after market close on Tuesday, April 30, 2024.
Key Points:
- The Chemours Company (“Chemours” or “the Company”) (NYSE: CC) today announced that the Company expects to issue its first quarter 2024 financial results after market close on Tuesday, April 30, 2024.
- The Company expects to hold its conference call to discuss its first quarter 2024 financial results at 8:00 a.m. Eastern Daylight Time on Wednesday, May 1, 2024.
- The call is open to the public and can be accessed via the below webcast information.
- Conference Call: Please visit investors.chemours.com for a link to the live webcast and to view the accompanying slides.
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Renewable energy This is the second year that Chemours has been recognized with both Better Project and Better Practice awards.
Key Points:
- This is the second year that Chemours has been recognized with both Better Project and Better Practice awards.
- “Partners in the Better Climate Challenge are industry leaders in energy efficiency and decarbonization.
- Better Practice Awards are presented to partners for innovative and industry-leading accomplishments in implementing and promoting practices, principles, and procedures of energy management.
- The 2024 Better Project, Better Practice Awards winners were celebrated during the Better Buildings, Better Plants Summit held in Washington, D.C.
Retrieved on:
Wednesday, March 27, 2024
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Fine chemical APM segment fourth quarter 2023 Net Sales were $325 million, down 15% compared to the fourth quarter 2022.
Key Points:
- APM segment fourth quarter 2023 Net Sales were $325 million, down 15% compared to the fourth quarter 2022.
- Performance Solutions portfolio’s fourth quarter 2023 Net Sales were $134 million, up 11% vs. the prior-year quarter.
- Advanced Materials portfolio’s fourth quarter 2023 Net Sales were $191 million, down 27% vs. the prior-year quarter.
- For the first quarter 2024, we expect consolidated Net Sales to be flat to slightly down sequentially, with consolidated Adjusted EBITDA down approximately 10% compared with fourth quarter 2023 results.
Retrieved on:
Wednesday, March 27, 2024
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Annual general meeting The Audit Committee’s internal review determined that there was a lack of transparency with the Company's Board of Directors by three former members of senior management.
Key Points:
- The Audit Committee’s internal review determined that there was a lack of transparency with the Company's Board of Directors by three former members of senior management.
- The Compensation and Leadership Development Committee of the Company’s Board of Directors took the results of the Audit Committee’s internal review into account and exercised full negative discretion in making cash and equity compensation determinations with regard to these former members of senior management.
- Additional details regarding these Compensation and Leadership Development Committee actions will be included in the Company’s Compensation Discussion and Analysis in its proxy statement for its 2024 Annual Meeting, when filed.
- The Company is in the process of designing and implementing enhancements to its internal control over financial reporting.
The Chemours Company (“Chemours” or “the Company”) (NYSE: CC) today announced that the Company currently expects to issue its fourth quarter and full year 2023 financial results and file its Annual Report on Form 10-K for the year ended December 31, 2023 after market close on Wednesday, March 27, 2024.
Key Points:
- The Chemours Company (“Chemours” or “the Company”) (NYSE: CC) today announced that the Company currently expects to issue its fourth quarter and full year 2023 financial results and file its Annual Report on Form 10-K for the year ended December 31, 2023 after market close on Wednesday, March 27, 2024.
- The Company expects to hold its conference call to discuss its fourth quarter and full year 2023 financial results at 8:00 a.m. Eastern Daylight Time on Thursday, March 28, 2024.
- The call is open to the public and can be accessed via the below webcast information.
- Conference Call: Please visit investors.chemours.com for a link to the live webcast and to view the accompanying slides.
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Management Ms. Dignam joined Chemours in 2015. She brings over 35 years of experience in the chemical industry where she has held senior roles in business and operations, sales and marketing, commercialization, and supply chain. She had served as Interim Chief Executive Officer since February 2024, and prior to that held the positions of President, Titanium Technologies (TT) segment, and President, Advanced Performance Materials (APM) segment---two businesses that represent over 68% of Chemours’ net sales in 2023. As President of Titanium Technologies, Ms. Dignam stood up the TT Transformation Plan, delivered significant operational savings in 2023, refocused the portfolio to deliver more customer value, and developed process improvements for better resource utilization across the manufacturing circuit. During her tenure on Advanced Performance Materials, she reshaped the portfolio to focus resources on secular growth opportunities in Clean Energy and Advanced Electronics. To further accelerate growth, she drove strategic partnerships and initiatives across the globe, and improved the overall cost structure of the business, laying the foundation for further cost optimization.
Key Points:
- The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, today announced the appointment of Denise Dignam, current Interim Chief Executive Officer, to the positions of President and Chief Executive Officer and a member of the Board of Directors, effective immediately.
- She had served as Interim Chief Executive Officer since February 2024, and prior to that held the positions of President, Titanium Technologies (TT) segment, and President, Advanced Performance Materials (APM) segment---two businesses that represent over 68% of Chemours’ net sales in 2023.
- Commenting on her appointment, Ms. Dignam said, “I am excited and honored to take on the role of President and CEO.
- She received her Master of Business Administration from Widener University and her Bachelor of Science in Mechanical Engineering from Villanova University.
Retrieved on:
Wednesday, March 20, 2024
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Lithium These selections validate Chemours’ leadership and expertise as a responsible manufacturer of high-quality, durable ionomers and membranes.
Key Points:
- These selections validate Chemours’ leadership and expertise as a responsible manufacturer of high-quality, durable ionomers and membranes.
- The project’s goals include creating products that can be manufactured cost-effectively at scale, a significant challenge the hydrogen industry faces today.
- “Chemours is committed to using the power of its chemistry to advance the clean energy transition and hydrogen economy.
- “At Chemours, our advanced chemistry and technology are at the heart of the hydrogen economy and essential to producing and deploying clean hydrogen,” said Gerardo Familiar, President of Advanced Performance Materials at Chemours.
