Chemours Announces Capacity Increase of HFC-152a
, Providing Reliable, Domestic Supply of Low Global Warming Potential Solution
Investment represents company’s commitment to advancing global climate and air-quality targets with sustainable, low-VOC solutions for the propellant and foam markets
WILMINGTON, Del.–(BUSINESS WIRE)–$CC–The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, today announced it is expanding production of Chemours HFC-152a by approximately 20 percent. In addition to helping meet customer demands for lower global warming potential (GWP) propellants and foam blowing agents, the expansion will enable reduced VOCs (volatile organic compounds) in consumer products and support the growing demand in thermal insulation foam products. The capacity expansion will occur at the company’s manufacturing facility in Ingleside, Texas—located 20 minutes outside of Corpus Christi—completion expected by mid 2024.
HFC-152a is a versatile, low GWP, non-VOC, aerosol propellant and foam blowing agent used in a wide range of personal care, household, industrial, and construction applications. As the sole U.S. domestic supplier of HFC-152a, the capacity increase provides long-term confidence to customers in an evolving regulatory landscape, as well as enabling the availability of multiple products ranging from adhesives and lubricant oils to hair care and body spray products to thermal insulating foams. Chemours HFC-152a is sold in the foam blowing agent market as Formacel™ Z-2 and in the aerosol propellant market as HP 152a.
“As regulations drive the continued phasedown of high GWP propellants, HFC-152a will continue to be a critical tool for aerosol formulators and insulating foam producers, offering the consistent, reliable, high-performance their customers demand,” said Joseph Martinko, President of Thermal & Specialized Solutions at Chemours. “Chemours is dedicated to helping customers across industries meet evolving regulatory requirements with solutions that minimize environmental impact without compromising performance. This investment is simply the latest example of that commitment. We will continue to invest in HFC-152a and other low GWP solutions to meet the needs of our customers and downstream users with minimal impact on our shared planet.”
Chemours is the only domestic producer of HFC-152a and continues to support customers by meeting the growing market demand for sustainable solutions to the aerosol propellant and foam markets.
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 6,600 employees and 29 manufacturing sites serving approximately 2,900 customers in approximately 120 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 Twitter @Chemours or 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, 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 for our segments individually and our company as a whole, business plans, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or 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, 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 general economic conditions and the COVID-19 pandemic, 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 and in our Annual Report on Form 10-K for the year ended December 31, 2022. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
Contacts
INVESTORS
Brandon Ontjes
VP, Financial Planning & Analysis and Investor Relations
+1.302.773.3300
investor@chemours.com
Kurt Bonner,
Manager, Investor Relations
+1.302.773.0026
investor@chemours.com
NEWS MEDIA
Cassie Olszewski
Manager, Media Relations & Financial Communications
+1.302.219.7140
media@chemours.com
