Chemours: Completing the Sale of Glycolic Acid Business to PureTech Scientific

The Chemours Company, a global leader in chemistry solutions, recently announced the successful completion of the sale of its Glycolic Acid Business. The buyer, PureTech Scientific, LLC, is backed by Iron Path Capital, a private equity firm specializing in lower-middle market investments in the specialty healthcare sectors. The deal, worth $137 million, aligns with Chemours' commitment to sustainable growth and creating value for its shareholders.

Chemours President and CEO, Mark Newman, emphasized the company's strategic focus on its three principal businesses and its dedication to solving global challenges through chemistry. He stated, "This transaction reflects our unwavering commitment to the disciplined execution of our strategy to compete where we are best positioned to win, enhance the quality of our earnings, and make meaningful investments."

The completion of this sale allows Chemours to concentrate on its core areas of expertise, including Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. With a wide range of market-defining products and chemistry-based innovations, Chemours aims to deliver customized solutions to various industries, such as coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas.

Chemours' products, sold under well-known brands like Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™, have established the company as a global leader in its field. With approximately 6,600 employees and 29 manufacturing sites, Chemours serves around 2,900 customers across 120 countries.

The company's headquarters is located in Wilmington, Delaware, and it is listed on the New York Stock Exchange under the symbol CC. To learn more about Chemours and its products, visit their website at chemours.com or follow them on Twitter (@Chemours) and LinkedIn.

Forward-Looking Statements

As with any financial transaction, there are risks and uncertainties involved. This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. These statements include predictions about the outcome of pending inquiries, regulatory changes, performance projections, business plans, capital investments, and more.

Forward-looking statements, which often use words like "believe," "expect," "will," "anticipate," "plan," "estimate," "target," and "project," can only provide insights up to the date they were made. These statements are not guarantees of future performance and are subject to risks and uncertainties beyond Chemours' control.

Factors such as general economic conditions, the ongoing COVID-19 pandemic, disruptions in supply chains, and other unpredictable events may impact Chemours' ability to provide goods and services efficiently. Additionally, there may be other risks and uncertainties not identified or anticipated at this time.

To stay informed about Chemours' business, it is advisable to review the company's filings with the U.S. Securities and Exchange Commission. These documents, like the Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, and the Annual Report on Form 10-K for the year ended December 31, 2022, highlight the risks, uncertainties, and other factors that could affect Chemours' performance.

Chemours has a firm commitment to revising or updating forward-looking statements as required by law. The company aims to provide accurate and transparent information to its stakeholders while navigating the ever-changing business landscape.

In conclusion, Chemours' completion of the sale of its Glycolic Acid Business to PureTech Scientific marks a significant milestone in the company's strategic growth plan. By focusing on its core businesses, Chemours aims to continue delivering market-defining products and innovative chemistry solutions to its global customer base. However, as with any financial transaction, there are inherent risks and uncertainties. It is crucial to stay informed about Chemours' business and closely follow its filings with the U.S. Securities and Exchange Commission for the latest updates.