Chemours loses $86m in 2015 as low TiO2 prices wipe out fluoroproduct gains
Published: Wednesday, 24 February 2016
The US chemicals producer was battered by softer pricing, unfavourable currency movements and restructuring costs in its first five months as an independent company, after it was divested by DuPont in July last year. Chemours has indicated that cost-cutting is its priority as it aims to revive its balance sheet.
A punishing $88m
bill for restructuring charges dragged performance chemicals
manufacturer The Chemours Co. to a
net loss of $90m in 2015, with $86m in losses recorded for the
fourth quarter alone.
The Wilmington, Delaware-based producer of titanium dioxide
(TiO2) and fluorochemcials, which was spun out of US chemicals
major, DuPont, in July last...