Chemours Announces Settlement Agreement with State of Ohio
29 Novembre 2023 - 12:45PM
Business Wire
Agreement resolves the State’s multiple
PFAS-related claims.
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 announces that it, along with DuPont de Nemours,
Inc. (“DuPont”) (NYSE: DD) and Corteva, Inc. (NYSE: CTVA), have
reached settlement agreement with the State of Ohio for $110
million to resolve claims associated with the manufacture and sale
of per- and polyfluoroalkyl substances (PFAS).
The agreement resolves the State’s claims relating to releases
of PFAS from the companies’ facilities including the Washington
Works facility located along the Ohio-West Virginia border. The
agreement also resolves claims relating to the manufacture and sale
of PFAS-containing products and the State’s claims related to
aqueous film-forming foam (“AFFF”). Of the $110 million total
payment, 80% will be allocated by the State for conduct related to
discharges from Washington Works, and the remaining 20% for other
PFAS claims statewide, including AFFF.
Consistent with the binding Memorandum of Understanding (MOU)
between Chemours, DuPont, and Corteva agreed in January 2021,
Chemours will be responsible for 50% of the settlement costs, or
$55 million, with DuPont and Corteva responsible for the remaining
50%.
Chemours believes this settlement furthers its objective to
manage and resolve legacy liabilities, consistent with our MOU
framework in coordination with DuPont and Corteva.
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 the federal securities laws, including Section 27A
of the Securities Act, and Section 21E of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”). Forward-looking
statements are based on certain assumptions and expectations of
future events that may not be accurate or realized and often
contain words such as “expect,” “anticipate,” “intend,” “plan,”
“believe,” “seek,” “see,” “will,” “would,” “estimate”, “target,”
similar expressions, and variations or negatives of these words.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain, such as statements about the
settlement with the State of Ohio. Factors that could cause or
contribute to these differences include, but are not limited to:
final court approval of the settlement. Unlisted factors may
present significant additional obstacles to the realization of
forward-looking statements. Further lists and descriptions of risks
and uncertainties can be found in Chemours' filings with the U.S.
Securities and Exchange Commission, including in Chemours’ annual
report on Form 10-K for the year ended December 31, 2022, and
Chemours’ subsequent reports on Form 10-Q and Form 8-K.
Consequences of material differences in results as compared with
those anticipated in the forward-looking statements could include,
among other things, business disruption, operational problems,
financial loss, legal liability to third parties and similar risks,
any of which could have a material adverse effect on Chemours’
consolidated financial condition, results of operations, credit
rating or liquidity. Chemours does not assume any obligation to
publicly provide revisions or updates to any forward-looking
statements, whether as a result of new information, future
developments or otherwise, should circumstances change, except as
otherwise required by securities and other applicable laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20231129145999/en/
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
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