Chemours completes the sale of its glycolic acid business

The U.S-based Chemours Company has completed the sales of its Glycolic acid business to PureTech Scientific, LLC. The company is a global chemical manufacturing company that stands at a leading market position for Thermal and Specialized Solutions, Titanium Technologies, and Advanced Performance Materials. PureTech Scientific, LLC, is supported and founded by Iron Path Capital, which is a private equity firm that mainly prioritizes investments in healthcare sectors.

As per the president and CEO of Chemours Company, Mark Newman, the happenings align with the company’s consistent focus on sustainable growth in their three businesses. Moreover, he states that the transaction reflects the firm commitments that the company holds in order to execute strategies that lead it to compete where it is best positioned to win. He adds this would enhance the quality of earnings of the company and would lead it to make meaningful investments that enable the company to resolve some of the biggest challenges through the power of chemistry.

The company has made a deal to sell its Glycolic Acid business to PureTech Scientific LLC for $137 million in cash. Chemours are global leaders majorly positioned for three market domains, that are Titanium Technologies, Thermal and Specialized Solutions, and Advanced Performance Materials. It mainly focuses on providing solutions to customers with market-defining products in a wide range. It aims to provide application expertise with powerful chemical innovations.

According to Procurement Resource, the Chemours Company, has reached an agreement to sell its Glycolic Acid business to PureTech Scientific, LLC, for USD 137 million in cash. The company is majorly positioned for its Titanium Technologies, Thermal and Specialized Solutions, and Advanced Performance Materials in the global marketplace. It aims to generate market solutions with its chemistry-based innovations.