The Chemours Company, a global performance chemicals manufacturer reported a fall in revenue for the fourth quarter 2019.
Chemours fourth quarter 2019 net sales were $1.35 billion, a 7.6% fall from prior-year quarter.
The company reported a loss of $317 million in the fourth quarter of 2019 against a profit of $142 million a year ago.
Results were driven primarily by lower volume in Titanium Technologies and lower volume and price in Fluoroproducts.
Revenues in the Titanium Technologies division were $610 million, down 8.4% from the prior-year quarter. The decline is attributable to a lower volume of Ti-Pure titanium dioxide.
Revenues in the Fluoroproducts segment fell 5.4% year over year to $614 million in the reported quarter. The decline is attributable to weakness in the electronics and automotive markets as well as the ongoing impact of illegal imports of HFC refrigerants into the European Union.
Revenues in the Chemical Solutions unit were $129 million, down roughly 13% year over year. The company saw lower prices in the quarter mainly due to lower raw material prices.
For 2019, Chemours witnessed a loss of $52 million against a profit of $995 million recorded in 2018. Revenues for the year declined 16.8% year over year to $5.53 billion.