DuPont officially spins off Chemours
July 11, 2015 by Canadian Plastics
Effective July 1, the new company of Chemours was officially spun off from chemical maker DuPont Company.
“We think of Chemours as a 200-hundred-year-old start-up,” president and CEO Mark Vergnano said in a news release. “We bring to the market a rich heritage based on our DuPont legacy and built on industry leadership and innovation adding the energy and agility of a customer-centered, global business fresh out of the starting gate.”
Wilmington, Del.-based Chemours is divided into three business units: Titanium Technologies, Fluoroproducts, and Chemical Solutions. “The Teflon product line falls under Fluoroproducts,” the company said. “With the transition, Chemours brings the Teflon product line and the power of the Teflon brand name with it. We believe this transition will bring customer centeredness and an ability to produce new products and be more responsive.”
DuPont, which is also headquartered in Wilmington, will retain its performance materials business, which includes nylon and other specialty resins.