Chemours sells aniline facility Dow chemicals $140 million

Chemours sells aniline facility to Dow chemicals for $140 million

11:58 AM, 21st November 2015
Chemours sells aniline facility to Dow chemicals for $140 million

WILMINGTON, US: The Chemours Company said it will sell its aniline facility in Beaumont, Texas to The Dow Chemical Company (Dow) for approximately $140 million in cash. The transaction close is subject to customary approvals and closing conditions.

Chemours has entered into an agreement to meet Dow’s additional aniline requirements with supply from its Pascagoula, Mississippi facility. Chemours will continue to serve other aniline customers from its Pascagoula plant, it said.

“We have moved rapidly since Chemours was created in July to capture substantial cost reductions and streamline our portfolio,” said Mark Vergnano, president and CEO, Chemours. “We will continue to take actions 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.

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