Chemours Halts Production in Mexico Due to Drought

The Chemours Company (NYSE: CC) has announced that it is temporarily pausing titanium dioxide production at its Altamira manufacturing facility in Mexico due to the severe drought impacting the region. This decision comes in response to a government request to minimize water intake to conserve water for the surrounding communities.

As a result of this pause in production, Chemours is working to identify and implement short* and long-term solutions in collaboration with government, business, and community partners. The company emphasized its commitment to serving customers through its other assets while navigating this challenging situation.

Chemours stated that it is currently unable to predict the duration of this event due to the uncertainty of external factors beyond its control. The temporary pause in titanium dioxide production reflects the company's dedication to supporting the local communities during this period of water scarcity.

The Chemours Company is a global leader in titanium technologies, thermal & specialized solutions, and advanced performance materials, serving customers across various industries. With approximately 6,200 employees, 28 manufacturing sites, and around 2,700 customers in approximately 110 countries, Chemours is headquartered in Wilmington, Delaware, and is listed on the NYSE under the symbol CC. Following these announcements, the company's shares moved -0.8%, and are now trading at a price of $24.63. If you want to know more, read the company's complete 8-K report here.

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