Chemours Completes Sale of Glycolic Acid Business to Iron Path Capital-backed PureTech Scientific, LLC for $137 Million
01 Agosto 2023 - 9:00AM
Business Wire
The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry
company with leading market positions in Titanium Technologies,
Thermal & Specialized Solutions, and Advanced Performance
Materials, announced it completed the sale of its Glycolic Acid
Business to PureTech Scientific, LLC, a company founded and backed
by Iron Path Capital, a private equity firm focused on lower-middle
market investments across the specialty healthcare sectors.
“The sale of the Glycolic Acid Business is consistent with our
focus on sustainable growth for our three principal businesses and
creating value for our shareholders,” said Mark Newman, Chemours
President and CEO. “This transaction reflects our unwavering
commitment to the disciplined execution of our strategy to compete
where we are best positioned to win, enhance the quality of our
earnings, and make meaningful investments that help solve some of
the world’s biggest challenges through the power of our
chemistry.”
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. Our flagship
products are sold under prominent brands such as Ti-Pure™, Opteon™,
Freon™, Teflon™, Viton™, Nafion™, and Krytox™. 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 chemours.com or
follow us on Twitter @Chemours or LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements, within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which involve
risks and uncertainties. Forward-looking statements provide current
expectations of future events based on certain assumptions and
include any statement that does not directly relate to a historical
or current fact. The words "believe," "expect," "will,"
"anticipate," "plan," "estimate," "target," "project" and similar
expressions, among others, generally identify "forward-looking
statements," which speak only as of the date such statements were
made. These forward-looking statements may address, among other
things, the outcome or resolution of any pending or future
environmental liabilities, the commencement, outcome or resolution
of any regulatory inquiry, investigation or proceeding, the
initiation, outcome or settlement of any litigation, changes in
environmental regulations in the U.S. or other jurisdictions that
affect demand for or adoption of our products, anticipated future
operating and financial performance for our segments individually
and our company as a whole, business plans, prospects, targets,
goals and commitments, capital investments and projects and target
capital expenditures, plans for dividends or share repurchases,
sufficiency or longevity of intellectual property protection, cost
reductions or savings targets, plans to increase profitability and
growth, our ability to make acquisitions, integrate acquired
businesses or assets into our operations, and achieve anticipated
synergies or cost savings, all of which are subject to substantial
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements.
Forward-looking statements are based on certain assumptions and
expectations of future events that may not be accurate or realized,
such as full year guidance relying on models based upon management
assumptions regarding future events that are inherently uncertain.
These statements are not guarantees of future performance.
Forward-looking statements also involve risks and uncertainties
that are beyond Chemours' control. Matters outside our control,
including general economic conditions and the COVID-19 pandemic,
have affected or may affect our business and operations and may or
may continue to hinder our ability to provide goods and services to
customers, cause disruptions in our supply chains such as through
strikes, labor disruptions or other events, adversely affect our
business partners, significantly reduce the demand for our
products, adversely affect the health and welfare of our personnel
or cause other unpredictable events. Additionally, there may be
other risks and uncertainties that Chemours is unable to identify
at this time or that Chemours does not currently expect to have a
material impact on its business. Factors that could cause or
contribute to these differences include the risks, uncertainties
and other factors discussed in our filings with the U.S. Securities
and Exchange Commission, including in our Quarterly Report on Form
10-Q for the quarter ended June 30, 2023 and in our Annual Report
on Form 10-K for the year ended December 31, 2022. Chemours assumes
no obligation to revise or update any forward-looking statement for
any reason, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230801292582/en/
INVESTORS Brandon Ontjes VP, Financial Planning &
Analysis and Investor Relations +1.302.773.3300
investor@chemours.com
Kurt Bonner, Manager, Investor Relations +1.302.773.0026
investor@chemours.com
NEWS MEDIA Cassie Olszewski Manager, Media Relations
& Financial Communications +1.302.219.7140
media@chemours.com
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