Chemours Company (CC)

[Enterprising Investor]

Chemours Strongly Refutes Citron Report (6/02/16)

WILMINGTON, Del., June 2, 2016 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC) strongly refutes the report by Citron Research issued today.

Chemours, a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, was created to build on its fundamental strengths.

Upon becoming an independent company less than one year ago, Chemours immediately launched a five-point transformation plan to improve Adjusted EBITDA by $500 million over 2015 levels and reduce its leverage ratio to approximately three times in 2017. Chemours continues to execute on all aspects of its plan by reducing cost, optimizing its portfolio, growing market positions, refocusing investments and enhancing its organization. The company has taken swift and decisive action under this plan and has already delivered significant cost reductions while strengthening its liquidity position. Chemours is making major investments in key growth initiatives, and continues to progress the strategic review of its Chemical Solutions business.

The company reaffirms its 2016 outlook of Adjusted EBITDA above the 2015 performance, generating modestly positive free cash flow. This includes the expectation of $200 million of cost savings realized in 2016.

Information about Chemours businesses, market positions and financial performance is available on Chemours.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 oil refining operations and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™. Chemours has approximately 8,100 employees across 35 manufacturing sites serving more than 5,000 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 Chemours on Twitter at @chemours.

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