DuPont names performance chem spin-off Chemours, to trade on NYSE

HOUSTON (ICIS)–US-based DuPont filed on Thursday the registration statement for its performance chemicals spin-off, named Chemours. 

The registration statement provides details about the company’s business and finances.

Chemours will ultimately trade on the New York Stock Exchange, DuPont said in the registration statement. It has not chosen a symbol.

Earlier, DuPont had said that Chemours should be spun off in mid-2015.

Chemours will be made up of three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions.

Titanium Technologies will produce titanium dioxide (TiO2), and Fluoroproducts will produce refrigerants and industrial fluoropolymer resins such as Teflon. Chemical Solutions supplies sodium cyanide, sulphuric acid, aniline and glycolic acid.

Chemours sales in Q1-Q3 were $4.88bn, down from $5.20bn from the same time in 2013. Sales fell across all three segments because of lower prices, DuPont said.

However, Q1-Q3 net income was $321m, up from $313m from the same time in 2013.