MOSCOW (MRC) -- DuPont has announced that the US Securities and Exchange Commission has declared effective the Registration Statement on Form 10 of The Chemours Company, as per the compnay's press release.
The Registration Statement on Form 10 includes information regarding the business and spin-off of Chemours, which is expected to be completed on July 1, 2015. In addition, on June 12, 2015, the New York Stock Exchange authorized Chemours for listing on the exchange, with "regular way" trading to commence on July 1, 2015.
As previously announced, on June 5, 2015, the DuPont board of directors declared a pro rata dividend to DuPont common stockholders of record as of 5:00 p.m. ET on June 23, 2015. As a result, on July 1, 2015, DuPont common stockholders will receive one share of common stock of Chemours for every five shares of DuPont common stock they hold on the record date. Prior to July 1, DuPont will mail an Information Statement containing information about Chemours and the spin-off to DuPont common stockholders as of the record date.
Chemours is a global leader in titanium technologies, fluoroproducts and chemical solutions, providing its customers in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and oil refining operations and general industrial manufacturing. Chemours has approximately 9,000 employees across 37 manufacturing sites serving more than 5,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Del.
As MRC wrote previously, The Chemours Co., the company to be created by the spinoff of Dupont's Performance Chemicals unit, has named the eight members of its board of directors,
DuPont is an American chemical company that was founded in July, 1802. The company manufactures a wide range of chemical products, leading extensive innovative research in this field. The company is the inventor of many unique plastics and other materials, including neoprene, nylon, Teflon, Kevlar, Mylar, Tyvek, etc. DuPont was the developer and main producer of Freon used in the production of refrigeration equipment.