United States. Chemours has revealed the signing of a definitive agreement to sell its aniline plant in Beaumont, Texas to The Dow Chemical Company (Dow) for approximately $140 million. The closing of the transaction 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, supplying it from its facility in Pascagoula, Mississippi. Therefore, Chemours will continue to serve other aniline customers from its Pascagoula plant.
"We have moved quickly since Chemours was created in July to achieve significant cost reductions and simplify our portfolio," said Mark Vergnano, Chemours president and CEO. "We will continue to take steps to meet all aspects of our five-point transformation plan, and enable a greater focus on our businesses that have the opportunities in stronger advantages and larger markets."
Vergnano added: "Dow as the owner of the Beaumont aniline plant is a natural fit, as Dow has been our largest aniline customer for many years. Our employees at the aniline facility have been a valuable part of our company, and we wish them all the best in this new chapter of their working lives."
