Dow Chemical to Buy Chemours FacilityDow Chemical to Buy Chemours Facility
November 20, 2015
The Chemours Co., a global chemical company with leading market positions in titanium technologies, fluoroproducts, and chemical solutions, has signed a definitive agreement to sell its aniline facility in Beaumont, TX to The Dow Chemical Co. for approximately $140 million in cash. The transaction close is subject to customary approvals and closing conditions.
As part of this transaction, Chemours has entered into an agreement to meet Dow’s additional aniline requirements with supply from its Pascagoula, MS facility. Chemours will continue to serve other aniline customers from its Pascagoula plant.
“We have moved rapidly since Chemours was created in July to capture substantial cost reductions and streamline our portfolio,” said Mark Vergnano, Chemours president and CEO. “We will continue to take actions to deliver on every aspect of our five-point transformation plan, and to enable greater focus on our businesses that have the strongest advantages and greatest market opportunities.
“Dow owning the Beaumont aniline facility is a natural fit, since Dow has been our largest aniline customer for many years. Our aniline facility employees have been a valued part of our company, and we wish them well in this next chapter of their working lives.”
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