The Chemours Company Temporarily Pauses Titanium Dioxide Production at Altamira, Mexico Site Amid Severe Regional Drought
01 June 2024 - 12:02PM
Business Wire
As a result of the severe drought impacting much of Mexico, The
Chemours Company (“Chemours”) (NYSE: CC), a global chemistry
company, today announced it is complying with a request from the
government to temporarily minimize water intake, which has led to a
pause in production at its Altamira Titanium Dioxide (TiO2)
manufacturing facility to conserve water for the surrounding
communities.
Chemours remains committed to serving customers through its
other world class assets. We are working closely with government,
business, and community partners to identify and implement
short-and long-term solutions.
At this time, Chemours cannot predict this event’s duration due
to the uncertainty of the factors outside of its control.
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 6,200 employees and 28 manufacturing sites, and
serves approximately 2,700 customers in approximately 110
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 X (formerly Twitter) @Chemours or on 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, our intent to serve customers through other assets, our
plans to work with the government and other entities, our plans to
identify and implement solutions, and our inability to predict the
duration of the event, 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 a continued prolonged drought in the impacted areas of
Mexico, general economic conditions, geopolitical conditions and
global health events and weather events, and changes in
environmental regulations in the U.S. or other jurisdictions that
affect demand for or adoption of our products, 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 Annual Report on Form 10-K
for the year ended December 31, 2023 and our Quarterly Report on
Form 10-Q for the quarter ended March 31, 2024. 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/20240531984819/en/
INVESTORS Brandon Ontjes Vice President, Investor
Relations +1.302.773.3300 investor@chemours.com Kurt Bonner
Manager, Investor Relations +1.302.773.0026 investor@chemours.com
NEWS MEDIA Jess Loizeaux Communications Leader – Crisis,
Issues & External Affairs +1.302.685-8554
media@chemours.com
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