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Operator
Ladies and gentlemen, thank you for standing by and welcome to The Chemours Company Fourth Quarter and Full Year 2020 Earnings Conference Call.
[Operator Instructions] I would now like to hand the conference over to your first speaker today, Jonathan Lock, Vice President, Corporate Development and Investor Relations. Please go ahead, Mr. Lock.
Jonathan Lock
Vice President Corporate Development and Investor Relations
Good morning and welcome to The Chemours Company s fourth quarter and full year 2020 earnings conference call. I m joined today by Mark Vergnano, President and Chief Executive Officer; Mark Newman, Senior Vice President and Chief Operating Officer; and Sameer Ralhan, Senior Vice President and Chief Financial Officer.
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Chemours Announces Two New Segments - Thermal & Specialized Solutions and Advanced Performance Materials - from Division of Fluoroproducts Segment
February 11, 2021 GMT
The Chemours Company (Chemours) is a global leader in titanium technologies, fluoroproducts and chemical solutions. (PRNewsfoto/The Chemours Company)
The Chemours Company (Chemours) is a global leader in titanium technologies, fluoroproducts and chemical solutions. (PRNewsfoto/The Chemours Company)
WILMINGTON, Del., Feb. 11, 2021 /PRNewswire/ The Chemours Company (Chemours or the Company) (NYSE: CC), a global chemistry company, today announced that, during the fourth quarter of 2020, the Company divided its former Fluoroproducts segment into two new reportable segments: Thermal & Specialized Solutions (“TSS”, formerly Fluorochemicals) and Advanced Performance Materials (“APM”, formerly Fluoropolymers).
By Rebecca Trager2021-01-28T13:39:00+00:00
DuPont and its spin-offs Chemours and Corteva have reached a $4 billion cost-sharing agreement to settle a dispute over liabilities associated with the company’s historic use of per- and polyfluoroalkyl substances
(PFASs), a notorious group of man-made chemicals that are persistent, highly mobile and bioaccumulative. These substances, which have contaminated waterways and drinking water across the US and the world, are associated with serious human health and environmental problems.
Under the arrangement, announced on 22 January, expenses will be split 50–50, with DuPont and Corteva covering half and Chemours being responsible for the other half. The three companies will share the costs of ‘certain qualified expenses’ over a period of no more than 20 years or $4 billion. They will also establish a $1 billion escrow account to address potential future liabilities related to PFAS contamination, with contributions being made annual