Chemours Co Stock Price, News & Analysis

The Chemours Company (NYSE: CC) has announced a joint venture with BWT FUMATECH Mobility GmbH to focus on manufacturing heavy-duty fuel cell membranes, an essential component for advancing the hydrogen economy. The new entity, THE Mobility F.C. Membranes Company GmbH, aims to meet the increasing demand for hydrogen technology. Chemours will leverage its expertise in Nafion™ ion exchange membranes while collaborating with BWT’s established production capabilities. The venture is expected to contribute significantly to the anticipated $900M heavy-duty fuel cell membrane market by 2030.

The Chemours Company (NYSE: CC) will release its third quarter 2022 financial results after market close on October 25, 2022. A webcast conference call will follow on October 26, 2022, at 8:00 a.m. EDT, allowing for Q&A. The company aims to enhance discussion by providing a transcript of its remarks, charts, and earnings press release on the same day. Chemours operates in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, serving approximately 3,200 customers across 120 countries.

The Chemours Company (NYSE: CC) has announced a major investment of $200 million to expand its capacity and technology for Nafion™ ion exchange materials, central to the Hydrogen Economy. This investment aims to meet the increasing demand for clean hydrogen generation, energy storage, and hydrogen fuel cell vehicles, driven by accelerated climate ambitions. The company's initiative supports its partners and aligns with the United Nations Sustainable Development Goals, with potential locations for this investment being explored in the U.S. and Europe.

The Chemours Company commends the U.S. Senate's ratification of the Kigali Amendment, joining around 140 nations to significantly reduce hydrofluorocarbons (HFCs) by over 80% in 30 years. This step supports the American Innovation & Manufacturing Act, which Chemours endorses, promoting sustainability and competitive advantages for U.S. companies. Chemours has invested over one billion dollars in its Opteon portfolio to facilitate this transition. A recent $80 million expansion in Texas aims to boost production capacity by 40%, enhancing its offerings in environmentally friendly thermal management solutions.

The Chemours Company (NYSE: CC) has revised its full-year 2022 guidance, projecting adjusted EBITDA between $1,400 million and $1,450 million, reflecting a 7% decrease from previous estimates but a 9% increase year-over-year. The decline is driven by a decrease in demand within its Titanium Technologies segment, mainly in Europe and Asia, alongside high input costs. The company expects to generate over $575 million in free cash flow while reducing capital expenditures from $400 million to $350 million.

Chemours has awarded scholarships to four local students in West Virginia as part of its Future of Chemistry Scholarship program, promoting access to STEM education. Recipients include Hayden Pelletier and Kody Wells, both receiving four-year scholarships of $10,000 annually, and Heidi Williams and Bryar Lamp, receiving two-year scholarships of $7,000 per year. This initiative is part of Chemours' broader commitment to invest $50 million in community safety and sustainability programs by 2030.

The Chemours Company (NYSE: CC) has awarded its second annual Carrier of the Year Awards to Marten Transport (Platinum) and Hirschbach Transportation Services (Gold) for their excellence in transporting Ti-Pure™ titanium dioxide. Marten achieved over 99% on-time delivery, while Hirschbach surpassed 95%. The awards reflect strong performance, commitment, and partnership in the Titanium Technologies supply chain. Chemours recognizes the value of dependable carriers in meeting customer needs and looks forward to future collaboration with these companies.

The Chemours Company (NYSE: CC) has signed a memorandum of understanding with West Virginia State University to enhance chemistry and chemical engineering education and workforce development.

The partnership includes internships for WVSU students, STEM education initiatives, funding for research projects, and scholarship opportunities. Chemours aims to engage in STEM outreach, while both entities will seek government funding for joint projects. This agreement reflects Chemours’ commitment to developing a sustainable talent pipeline in STEM fields.

The Chemours Company (NYSE:CC) announced the retirement of David Shelton, Senior Vice President and General Counsel, effective at the end of 2023. From October 1, Shelton will focus on legacy liabilities while Kristine Wellman will assume his role. Wellman brings over 20 years of legal experience and has significantly contributed to Chemours since its spin-off. CEO Mark Newman expressed gratitude for Shelton's impactful leadership and highlighted the importance of addressing legacy litigation as part of their strategic priorities.