World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom


Keep up-to-date with the latest new products and technology


General articles, applications and industry analysis

Chemours doubles net income

Mark Vergnano: “We are delivering improved business performance across the company”

USA: Refrigerant manufacturer Chemours has reported a first quarter sales increase of 20% and a near doubling of net income compared to 2017.

First quarter net sales were $1.7bn, a 20% increase on the $1.4 billion in the previous-year quarter.  Net income was $297m in the same period, up 98% on last year’s net income of $150m.

Volume growth was seen across all three segments of the company’s business –  Fluoroproducts, Chemical Solutions and Titanium Technologies.

“Last year’s momentum has continued into 2018,” commented Chemours president and CEO Mark Vergnano. “We are delivering improved business performance across the company driven by preference for our Ti-Pure titanium dioxide, continued Opteon refrigerant adoption, and increased demand for our fluoropolymers products.

The Fluoroproducts segment, which includes its refrigerants business, saw sales in the first quarter reach $732m, a 12% increase in comparison to the prior-year quarter. Opteon refrigerant sales growth and continued demand for fluoropolymers drove volume increases versus last year’s first quarter.

Vergnano also confirmed the completion of Chemours’ acquisition of US refrigerant supplier ICOR International. “Our first targeted acquisition bolsters our refrigerant portfolio and broadens our channel access across our markets as we continue to expand our low GWP Opteon portfolio,” he said.

Related stories:

Chemours buys refrigerant supplier ICOR3 April 2018
USA: Leading refrigerant manufacturer Chemours has acquired ICOR International, a privately-owned US supplier of branded refrigerants. Read more…

Latest News

27th February 2024

Leak detection software attracts $5m funding

USA: The refrigerant leak detection software created by San-Jose-based Axiom Cloud has attracted $5m in funding to accelerate deployment of the technology.
27th February 2024

Midea opens showroom in New York

USA: Chinese air conditioning and heat pump manufacturer Midea has opened its first national showroom and distribution centre in New York.
27th February 2024

European heat pump sales down 5% in 2023

EUROPE: After a decade of increases, heat pump sales in Europe fell by around 5% in 2023 – and market analysts are expecting this downward trend to continue this year.
26th February 2024

Modine buys Canadian AHU manufacturer

USA/CANADA: Modine has entered into a definitive agreement to acquire Canadian air handling unit manufacturer Scott Springfield Manufacturing. 
26th February 2024

Stulz partners on immersion cooling

GERMANY/NETHERLANDS: Stulz Modular, the data centre design, build and maintenance services provider, is cooperating with Dutch immersion cooling specialist Asperitas in the field of liquid cooling.
26th February 2024

Brian Streatfield 1936-2024

UK: Brian Streatfield, a man who was instrumental in the formation of Carrier in the UK during the 1970s, died at the weekend. He was 87.