Wilmington, Delaware — Blowing agent company Chemours experienced a growth in sales for its fluoropolymer segment rise to $ 637 m in the third quarter of 2017, up 7.7% on the same period last year, the company said in a release.
The firm said that this was as a result of ‘continued solid demand for our Opteon refrigerant in Europe and the US, as well as fluoropolymer products’.
Demand, the company said, was up 5% in the quarter compared with the 2016 third quarter.
In addition, marginal price increases and slightly favourable foreign exchange rates further improved net sales for the period. This fed through to increased earnings before interest, tax, amortisation and depreciation of $158m, up 10% compared with the 2016 quarter. This number would have been higher if it were not for Hurricane Harvey, higher capex and higher staff bonuses.
Overall, in the third quarter, Chemours recorded sales of $1.58 bn, up 13% on the 1.4bn in the third quarter of 2016.