Chemours Company, the global supplier of titanium technologies, fluoroproducts and chemical solutions, has sold its sulfur products business, part of its chemical solutions segment, to Veolia North America for $325 million in cash.
“Today marks the completion of our chemical solutions portfolio review - a key milestone in our five-point transformation plan. In less than one year, we sold our aniline facility in Beaumont (Texas); began cost improvement efforts in our methylamines business in Belle, W.Va.; began shutdown of our reactive metals business in Niagara Falls, N.Y.; and announced the sale of our clean and disinfect and sulfur businesses. Once complete, we will have a lower capital-intensive and streamlined chemical solutions portfolio that includes our growing cyanides business. The total gross proceeds from the three divestitures will be approximately $700 million, providing strategic flexibility as Chemours completes its transformation plan,” commented Mark Vergnano, president and CEO, Chemours.
Sulfur products business, with approximately $250 million in revenue, offers sulfuric acid products and services to a range of industries in North America. It is a leading provider of spent acid regeneration (SAR) and sulfur gas recovery (SGR) services, non-fuming sulfuric acid and higher value sulfur derivatives (HVSDs).
