DOVER, Del. (AP) — The CEO of DuPont Co. spinoff Chemours says he's looking at future quarters to be net-income positive after the company reported its latest quarterly loss.
Chemours chief Mark Vergnano on Tuesday also dismissed speculation among some industry analysts that DuPont spun off its debt-laden performance chemicals unit with the idea that it would wind up in bankruptcy, allowing DuPont to shed hundreds of millions in environmental liabilities.
Chemours on Monday reported a net loss of $18 million for the second quarter, equal to the loss for the corresponding period last year, the final quarter before completion of the spinoff.
Vergnano said he was pleased with the progress Chemours has made as a stand-alone business, and that the company is on track with every aspect of its post-spinoff transformation plan.