USA: Chemours’ refrigerants business suffered a 16% decline in 2020 to $1.1bn, largely as a result of covid-19’s effects on end user markets.
The new Thermal & Specialized Solutions (TSS) division, which comprises Chemours’ Opteon and Freon refrigerants, alongside several other related product categories, recorded 9% lower volume and 7% lower prices in 2020 versus 2019.
The latest financial results report that covid-19 had a significant impact on end-market demand in the year, particularly in the automotive sector. However, sales volume rebounded in the second half of the year as the global recovery proceeded, supporting the continued Opteon adoption.
Full year 2020 segment adjusted EBITDA was $354m, down 11% on 2019. The effects of lower sales was said to have been offset by enhanced operational performance and cost savings associated with ramp up of Chemours’ Opteon production plant in Corpus Christi.
Chemours creates new division for refrigerants – 12 February 2021
USA: Changes at Chemours sees the US chemical manufacturer’s refrigerants business in a new product-focused division, led by Alisha Bellezza. Read more…