WILMINGTON, Del., June 26, 2017 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, held a "placing of the first stone" event on Saturday, June 24, to mark the start of construction of a new Chemours Mining Solutions manufacturing facility in the state of Durango, Mexico. This project represents an estimated $150 million investment.
Chemours is the world's largest producer of solid sodium cyanide, essential in mining operations, with a 60-year heritage of innovative science, industry-leading safety practices and dedication to stewardship. Located in the municipality of Gómez Palacio, this new facility will ensure a safe and reliable supply to the mining industry in Mexico.
"This project is a further demonstration of our five-point transformation plan and will support the growing needs of the Mexican mining market," said Mark Vergnano, Chemours president and CEO. "We've had successful operations in Mexico for over 90 years, and this undertaking reinforces our continued commitment to our Chemours Mining Solutions business."
According to Chris Siemer, president of the company's chemical solutions business unit: "Mining companies count on us for consistent, reliable supply to help keep their operations running. This production facility in Mexico will significantly increase our capacity and will include state-of-the-art manufacturing technology and production processes. Its location near some of the largest deposits of gold and silver in Mexico and in the heart of the mining industry will enable us to broaden our support to our customers by providing a distinct competitive advantage in supply chain routing."
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 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, 2016. Chemours undertakes no duty to update any forward-looking statements.
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SOURCE The Chemours Company