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.
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.
Sr. Global Marketing Communications Manager, Fluorochemicals
VP, Corporate Development and Investor Relations
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SOURCE The Chemours Company