During our first full operating year as a standalone company, we’ve shown the agility to overcome challenges and achieve positive results across our financials, businesses, and organizational culture.
Our Continued Focus to Become a Higher Value Chemistry Company
In 2016, we achieved incredible improvements in our business performance, taking a huge step towards becoming a Higher Value Chemistry company. As we enter 2017, we continue to be resolute in our efforts to complete our transformation plan and deliver our target financial, business, and organizational enhancements and growth.
SVP & Chief Financial Officer
A hard look at our past created a strong foundation for our future.
Since the announcement of our transformation plan in August 2015, one of our goals has been to reduce our total structural costs by a cumulative $450 million by the end of 2017. Now we’re beginning to see the fruits of our hard work. In 2016, we accomplished our stated goal of lowering structural costs by $200 million—or $300 million cumulatively since spinoff—and we remain focused on delivering the remainder of our target.
But we didn’t stop there. Despite market challenges, financial headwinds, and inherited obstacles, we achieved robust results across multiple financial metrics.
President & Chief Executive Officer
We concentrated on building stronger brands.
Chemours is by far the world’s leading producer of performance chemicals. Our market-leading positions in Ti-Pure™, Opteon™, and Mining Solutions all greatly contributed to our growth in 2016, and will continue to deliver positive results throughout our transformation plan. We’ve accomplished this through concentrating strategic investments in our higher-value businesses and optimizing our portfolio.
Our organizational culture has grown to keep pace.
At Chemours, we believe that business and cultural growth are like covalent molecules—one can’t exist without the other. By honing our corporate values on “Customer Centered,” and “Refreshing Simplicity,” we have made progress towards becoming a simpler and nimbler organization for our customers. We have simplified our processes with more rapid decision-making, while maintaining our focus on serving our customers better—with value-added products and unparalleled technical support.
Buyer/Manager of Success, Vasconia
Our Commitment to Long-Term Growth
As we continue to fulfill our transformation plan throughout 2017, we will look for opportunities to generate even more growth. We’ll do this with an ever-diligent eye towards how to best optimize and enhance our performance at every step—for the benefit of our customers, employees, shareholders, and society at large.
Our unwavering commitment to become a Higher Value Chemistry company—one that harnesses the power of chemistry through our higher-volume and differentiated premium products—will continue well past 2017. We’re laser focused on becoming a company that leads change through innovation to meet the needs of our ever-changing world.
These are the standards we hold ourselves to. We look forward to a prosperous 2017 and to having even more positive change to share.**
**Our Forward-Looking Statements and reconciliations of non-GAAP measures to GAAP measures are available at investors.chemours.com.