The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE:
DD) and Corteva, Inc. (NYSE: CTVA) (the “Companies”) today
announced their continued support for the June 30, 2023, agreement
to comprehensively resolve PFAS1-related drinking water claims of a
defined class2 of public water systems.
On December 20th, the notice administrator in the South Carolina
aqueous film-forming foam multi-district litigation (“AFFF MDL”)
requested an extension until January 3, 2024, to file with the
United States District Court for the District of South Carolina the
list of public water systems that have opted out of the settlement
class.
Under the terms of the agreement, the Companies have until today
to exercise their walk-away rights based on the number of opt outs
from the class. The Companies have sufficient insight into this
process to determine that they remain in favor of the settlement
and do not intend to exercise that right.
The court on December 7, 2023, issued an order allowing water
systems that elected to opt out of the settlement to rejoin the
settlement class until as late as March 1, 2024. On December 14,
2023, the court held a fairness hearing on final approval of the
settlement; the Companies await the court’s final order and support
final approval.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium
Technologies, Thermal & Specialized Solutions, and Advanced
Performance Materials 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, and oil and gas. The company has
approximately 6,600 employees and 29 manufacturing sites serving
approximately 2,900 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
investors.chemours.com or follow us on Twitter @Chemours or
LinkedIn.
About DuPont
DuPont (NYSE: DD) is a global innovation leader with
technology-based materials and solutions that help transform
industries and everyday life. Our employees apply diverse science
and expertise to help customers advance their best ideas and
deliver essential innovations in key markets including electronics,
transportation, construction, water, healthcare and worker safety.
More information about the company, its businesses and solutions
can be found at www.dupont.com. Investors can access information
included on the Investor Relations section of the website at
investors.dupont.com.
DuPont™, the DuPont Oval Logo, and all trademarks and service
marks denoted with ™, SM or ® are owned by affiliates of DuPont de
Nemours, Inc. unless otherwise noted.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture
company that combines industry-leading innovation, high-touch
customer engagement and operational execution to profitably deliver
solutions for the world’s most pressing agriculture challenges.
Corteva generates advantaged market preference through its unique
distribution strategy, together with its balanced and globally
diverse mix of seed, crop protection, and digital products and
services. With some of the most recognized brands in agriculture
and a technology pipeline well positioned to drive growth, the
Company is committed to maximizing productivity for farmers, while
working with stakeholders throughout the food system as it fulfills
its promise to enrich the lives of those who produce and those who
consume, ensuring progress for generations to come. More
information can be found at www.corteva.com.
Forward-Looking Statements
This communication contains “forward-looking statements” within
the meaning of the federal securities laws, including Section 27A
of the Securities Act, and Section 21E of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”). Forward-looking
statements are based on certain assumptions and expectations of
future events that may not be accurate or realized and often
contain words such as “expect,” “anticipate,” “intend,” “plan,”
“believe,” “seek,” “see,” “will,” “would,” “estimate”, “target,”
similar expressions, and variations or negatives of these words.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain, such as statements about the
settlement with plaintiff water utilities concerning PFAS
liabilities. Factors that could cause or contribute to these
differences include, but are not limited to: final court approval
of the settlement; the outcome of any pending or future litigation
related to PFAS or PFOA, including personal injury claims and
natural resource damages claims; the extent and cost of ongoing
remediation obligations and potential future remediation
obligations; changes in laws and regulations applicable to PFAS
chemicals; the final level of opt-out exclusions from the
settlement. Unlisted factors may present significant additional
obstacles to the realization of forward-looking statements. Further
lists and descriptions of risks and uncertainties can be found in
each of Chemours’, DuPont’s and Corteva’s respective annual report
on Form 10-K for the year ended December 31, 2022, and each of
Chemours’, DuPont’s and Corteva’s respective subsequent reports on
Form 10-Q and Form 8-K. Consequences of material differences in
results as compared with those anticipated in the forward-looking
statements could include, among other things, business disruption,
operational problems, financial loss, legal liability to third
parties and similar risks, any of which could have a material
adverse effect on each of Chemours’, DuPont’s or Corteva’s
respective consolidated financial condition, results of operations,
credit rating or liquidity. None of Chemours, DuPont or Corteva
assumes any obligation to publicly provide revisions or updates to
any forward-looking statements, whether as a result of new
information, future developments or otherwise, should circumstances
change, except as otherwise required by securities and other
applicable laws.
1 PFAS, as defined in this settlement, includes PFOA and HFPO-DA
among a broad range of fluorinated organic substances. 2 The class
is composed of all Public Water Systems, as defined in 42 U.S.C §
300f, with a current detection of PFAS or that are currently
required to monitor for PFAS under the EPA’s Fifth Unregulated
Contaminant Monitoring Rule (“UCMR 5”) or other applicable federal
or state law. Approximately 88 percent of the U.S. is served by
systems required to test under UCMR 5.
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Chemours - Investors Brandon Ontjes +1.302.773.3300
investor@chemours.com
Kurt Bonner +1.302.773.0026 investor@chemours.com
Chemours - Media Cassie Olszewski +1.302.219.7140
media@chemours.com
DuPont - Investors Christopher Mecray +1.917.517.3388
Chris.mecray@dupont.com
DuPont - Media Dan Turner +1.302.299.7628
Daniel.A.Turner@dupont.com
Corteva - Investors Kim Booth +1.302.485.3190
kimberly.a.booth@corteva.com
Corteva - Media Bethany Shively +1.202.997.9438
bethany.shively@corteva.com
Corteva (NYSE:CTVA)
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