Chemours Mulls Sale of Mining Solutions
Chemours has started a strategic review to assess the potential sale of its Mining Solutions business. The company has retained New York-based financial advisor Gordon Dyal & Co. to assist in the review.
“Optimizing and focusing our portfolio continues to be a top strategic priority for Chemours," said president Mark Vergnano. Part of its Chemical Solutions segment, Chemours said the business is one of North America’s largest producers of solid sodium cyanide, a major component for extracting gold and silver from mined ores.
“Recent investments in production capability and infrastructure at the company's Memphis plant, along with supply chain optimization efforts to reduce costs, will enable Mining Solutions to maximize growth and margin expansion, further increasing the value of this highly successful business," said Ed Sparks, president of Chemours Titanium Technologies and Chemical Solutions.
Last month, the US chemical company, which was founded in July 2015 as a spinoff from DuPont, announced that it had split its Fluoroproducts segment into two distinct businesses during the final quarter of 2020. The previous fluorochemicals reporting unit is now Thermal & Specialized Solutions (TSS), while the fluoropolymers segment is Advanced Performance Materials (APM).
Author: Elaine Burridge, Freelance Journalist
