On Wednesday, Forbes reported that Credit Suisse, a participant in Keep Your Promises’ June 9 Investor Briefing regarding Chemours’ understated liabilities, recognizes the prospect of the spinoff company’s environmental liabilities more than doubling, mainly as a result of ongoing suits in connection to DuPont’s contamination with C-8 in the mid-Ohio Valley.… Read More

Atomic bombs, leaded gasoline, Teflon: DuPont Co. built materials that powered the products defining American industrial and military might in the 20th century.

Jobs have been scaled way back at old DuPont sites along the Delaware, Ohio, and other great rivers. But the plants remain home to caustic and cancer-causing byproducts, held back by pumps, pipes, and barriers, not to mention litigation and negotiations with local governments, community groups, and regulators.

Who’s going to manage these long-term threats, now that DuPont is spinning off old chemical units into a smaller new company, Chemours, on July 1?… Read More

Chemours mgmt (trading CCWI—when issued until 7/1 when it will trade under the ticker CC after the spin-off from DD) hosted a sell-side analyst day giving details on CC and the industries they serve (TiO2, Fluoro Chems/Polymers, Chemical Solutions that include cyanides, sulfur products and other). We came away with the following outtakes:… Read More

The credit ratings agency Moody’s has evaluated Chemours. Moody’s concluded that “a pattern of adverse [PFOA] jury decisions could heighten the risk that a meaningful liability accrues to Chemours related to this problem.” Other constraints include:

High financial leverage;
A high anticipated dividend payout relative to earnings and cash flow…… Read More