WILMINGTON, Del., Sept. 22, 2016
WILMINGTON, Del., Sept. 22, 2016 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, today formally inaugurated its new titanium dioxide (TiO2) production line at its Altamira plant in the Mexican state of Tamaulipas.
In May of this year, Chemours announced the commercial start-up of the new line for customer qualifications; the line uses the Chemours chloride process to produce Ti-Pure™ TiO2 pigment. Production on the new line is expected to ramp up steadily, with full capacity of 200,000 metric tons per year being achieved over the next several years. In addition to its Altamira plant, Chemours manufactures TiO2 products at sites in Mississippi, Tennessee, and Taiwan. The company will balance production across these facilities to meet customers' needs as the new Altamira line increases capacity.
Bryan Snell, president of Chemours Titanium Technologies, participated in the ceremonies to mark the official opening of the new production line. He was joined by Jose Antonio Chouza, commercial director for Chemours Titanium Technologies in Latin America, as well as Mexican Secretary of the Economy Ildefonso Guajardo Villarreal, Tamaulipas Governor Egidio Torre Cantú, and other federal, state and local government officials from Mexico.
"The expansion we celebrate today demonstrates our confidence in, and our commitment to, the future of the TiO2 industry," said Snell. "We are proud to be the global leader in producing high-quality titanium dioxide pigments. This new production line will help us deliver on our long-term commitment to serving our global customers with a product that delivers high-performance without compromising quality or environmental sustainability."
"In addition to increasing the future production capacity of our plant, this expansion has generated thousands of local jobs," said Chouza. "During the three-year construction project, 3,000 contractor jobs were created. The production expansion also means 200 new direct jobs, one-quarter of which are filled by women."
Chemours has the lowest sustainable TiO2 production cost in the world due to facility scale, proprietary process and know-how, and the ability to use a wide variety of ore feedstocks. The company anticipates that it will reduce overall costs of TiO2 manufacturing by at least $20 million annually.
About The Chemours Company
The Chemours Company (NYSE: CC) helps create a colorful, capable and cleaner world through the power of chemistry. Chemours is a global leader in titanium technologies, fluoroproducts, and chemical solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise, and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and oil refining operations and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™. Chemours has approximately 8,000 employees across 35 manufacturing sites serving more than 5,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC. For more information, please visit chemours.com or follow Chemours on Twitter at @chemours.
This press release contains forward-looking statements, which often may be identified by their use of words like "plans," "expects," "will," "believes," "intends," "estimates," "anticipates" or other words of similar meaning. These forward-looking statements address, among other things, our anticipated future operating and financial performance, business plans and prospects, transformation plans, resolution of environmental liabilities, litigation and other contingencies, plans to increase profitability, our ability to pay or the amount of any dividend, and target leverage that 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 not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. The matters discussed in these forward-looking statements also are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements, as further described in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the fiscal year ended December 31, 2015. Chemours undertakes no duty to update any forward-looking statements.
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SOURCE The Chemours Company