Wilmington, Delaware – Sales in the fluoropolymer segment at blowing agent producer Chemours reached $801 m in the second quarter of 2018.
This represents a 13% increase on the $710 m sales achieved in the equivalent quarter of 2017.
The company claimed it had experienced strong growth for its Opteon refrigerant. This was primarily driven by ‘stationary adoption in EU, and mobile adoption in US and Asia-Pacific’. The base refrigerant revenue is in line with the previous year’s quarter, with higher price offsetting modestly lower volume.
It added that certain fluoropolymer products are expected to remain sold out. The company is anticipating solid demand and higher price, driven by previously announced price increases.
For the overall business. Chemours reports that net sales for the quarter reached $1.816 bn. This is a 14% rise from the $1.588 bn reported for the same quarter in 2017. Net income rose by 75% to $314m.
‘Our performance this quarter was truly a team effort, resulting in broad-based growth across our segments,’ said Chemours president and CEO Mark Vergnano. ‘Continued momentum in Opteon refrigerants adoption; increased price and sustained demand for our fluoropolymers products; higher average global prices for Ti-Pure pigment, and demand for our mining products led to double-digit growth.’
He said his company’s earnings for the rest of 2018 will be ‘in the top end’ of our its announced range.