The Chemours Company - CC STOCK NEWS

Chemours (NYSE: CC) announced that PCC Group plans to construct and operate a chlor-alkali facility at Chemours' titanium dioxide plant in DeLisle, Mississippi. The companies have entered into a chlorine supply agreement, pending customary conditions. The new facility will have an annual capacity of 340,000 metric tons and utilize state-of-the-art technology for maximum energy efficiency.

Construction is scheduled to begin in early 2026, with operations starting in 2028. The project requires no upfront financial commitment from Chemours and aims to lower manufacturing costs while improving supply reliability. The facility will produce caustic soda as a co-product, which PCC will sell to strategic partners and on the open market. The project is expected to create up to 1,200 temporary construction jobs and permanent positions for skilled personnel.

The Chemours Company (NYSE: CC) has successfully completed the repricing of its Tranche B-3 U.S. Dollar-denominated Term Loan, which is due in August 2028. The repricing reduces the applicable margin on the company's $1.07 billion senior secured term loan facility from adjusted Term SOFR + 3.50% to adjusted Term SOFR + 3.00%, or from adjusted base rate plus 2.50% to adjusted base rate plus 2.00%. The maturity date and other terms remain substantially unchanged.

The Chemours Company (NYSE: CC) has completed a private offering of $600 million in 8.000% senior unsecured notes due 2033. The notes are guaranteed by certain Chemours subsidiaries and were offered exclusively to qualified institutional buyers and non-U.S. persons. The net proceeds will be used to redeem all outstanding euro-denominated 4.000% Senior Notes due 2026 (€440,810,000), with the remainder allocated for general corporate purposes.

Chemours highlights the potential impact of two-phase immersion cooling (2-PIC) technology on data center energy efficiency. As data centers' power consumption is projected to increase from 3% to 8% of U.S. power generation by 2030, 2-PIC technology could reduce energy consumption by up to 40%. The company's Opteon™ 2P50 dielectric fluid is designed specifically for this application. Implementation of 2-PIC in U.S. data centers could eliminate up to 21.6 terawatt hours of future capacity, equivalent to powering over 2 million American homes. This innovation addresses the growing cooling demands of next-generation computing chips, which traditional air cooling systems may not meet by 2026.

The Chemours Company introduces Opteon™ 2P50, a developmental fluid for two-phase immersion cooling (2-PIC) designed to address data center sustainability challenges. As data centers currently consume 460 TWh of electricity annually and are expected to double energy consumption by 2026, this innovation offers significant improvements: up to 90% reduction in cooling energy consumption, 40% decrease in overall energy use, and 60% reduction in physical space requirements. A recent study with LiquidStack and Syska Hennessy confirmed the technology can reduce operational expenses by up to 88.6% compared to other liquid cooling techniques. The solution features a low global warming potential (GWP) of 10 and promotes circularity through fluid recovery and reuse.

The Chemours Company (NYSE: CC) has announced the pricing of a $600 million private offering of senior notes due 2033. The notes will carry an 8.000% interest rate, payable semi-annually starting July 15, 2025. The company plans to use the proceeds to redeem all outstanding euro-denominated 4.000% senior notes of €440,810,000 due 2026, with the remainder allocated for general corporate purposes. The notes will be senior unsecured obligations guaranteed by certain Chemours subsidiaries. The offering is expected to close on November 27, 2024.

Chemours (NYSE: CC) has announced plans to offer $600 million in senior notes due 2033. The notes will be senior unsecured obligations guaranteed by certain subsidiaries. The company plans to use the proceeds to redeem all outstanding euro-denominated 4.000% senior notes due 2026, with the remainder allocated for general corporate purposes. The offering is exclusively available to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.

Chemours reported Q3 2024 financial results with Net Sales of $1.5 billion, up 1% year-over-year. The company recorded a Net Loss of $27 million ($0.18 per share), including a $56 million non-cash impairment charge, compared to Net Income of $12 million in Q3 2023. Adjusted EBITDA was $208 million, slightly down from $211 million last year.

The Thermal & Specialized Solutions segment achieved record Q3 sales, with Opteon™ Refrigerants growing 21% year-over-year. The company outlined a refreshed corporate strategy focusing on operational excellence, targeting over $250 million in cost savings through 2027.

The Chemours Company (NYSE: CC) has announced its quarterly dividend payment for Q4 2024. The company's Board of Directors has declared a cash dividend of $0.25 per share on common stock. The dividend will be distributed on December 16, 2024, to shareholders who are recorded as stockholders at the close of business on November 15, 2024.