WILMINGTON, Del., Feb. 12, 2019 /PRNewswire/ -- The Chemours Company (Chemours)
(NYSE: CC), a global chemistry company with leading market positions in fluoroproducts, today announced the startup of the new
Opteon™ YF (HFO-1234yf) low global-warming-potential (GWP) refrigerant production facility at its Corpus Christi manufacturing plant in Ingleside, Texas. This facility will
enable Chemours to triple the global capacity of its hydrofluoroolefin (HFO) 1234yf-based products to meet increasing market
demands for more environmentally sustainable refrigerants and blends.
"The startup completes the final phase of the $300 million project we started in 2016, which
triples supply capacity of Opteon™ YF across multiple industries and applications," said Mark
Vergnano, Chemours president and CEO. "This milestone is a tangible example of our steadfast commitment to providing the
world with low GWP refrigerant products that are better for the environment."
The Opteon™ YF (HFO-1234yf) refrigerant production facility is the largest such facility in the world. It comes at a critical
time when the world is transitioning to the next generation of refrigerants to achieve long-term sustainability. Our Opteon™ YF
refrigerant used in automotive air conditioning has a GWP that is 99.9% lower than the refrigerant it replaces. This helps lower
the greenhouse gas footprint for motor vehicles and is a significant path to meeting environmental global-warming regulations
around the world.
The expanded capacity will also enable Chemours to meet the growing need for next-generation refrigerants in stationary air
conditioning, refrigeration, and chillers. According to Paul Kirsch, president of Chemours
Fluoroproducts: "Our U.S. facility reinforces our commitment to meet the needs of our mobile and stationary refrigerant customers
through unmatched capacity, capability, and quality. This also means our production facilities will be closer to our customers in
North America and Europe, as well as around the world."
This investment to build world-scale manufacturing capability has resulted in hundreds of U.S. jobs ranging from
R&D, manufacturing, construction support, and associated businesses that supply our new manufacturing plant.
The Corpus Christi site uses an innovative, patented process to manufacture Opteon™ YF for
automotive air conditioning and refrigerant blends that are used across a range of applications. This ongoing innovation by
Chemours has consistently positioned its fluorochemicals business as a leader in refrigerant solutions for nearly 90 years.
For more information, visit Opteon.com
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
general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™,
Viton™, Opteon™, Freon™ and Nafion™. Chemours has approximately 7,000 employees and 26 manufacturing sites serving
approximately 4,000 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 us on Twitter @Chemours, or LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995, 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,
business plans, prospects, targets, goals and commitments, capital investments and projects, plans for dividends or share
repurchases, sufficiency or longevity of intellectual property protection, cost 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, and our outlook for net sales, Adjusted EBITDA, Adjusted EPS, Free Cash Flow, and Return
on Invested Capital (ROIC), 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. These statements are not guarantees of future
performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. 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, 2017. Chemours assumes no obligation to
revise or update any forward-looking statement for any reason, except as required by law.
CONTACT:
NEWS MEDIA
Maria Chacon
Sr. Global Marketing Communications Manager, Fluorochemicals
+1.302.773.4510
media@chemours.com
INVESTORS
Jonathan Lock
VP, Corporate Development and Investor Relations
+1.302.773.2263
investor@chemours.com
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SOURCE The Chemours Company