The Chemours Co., the former performance chemicals business spun off from the DuPont Co. earlier this year, is closing its Delaware titanium dioxide production facility.
Chemours said Thursday that in addition to closing the Edge Moor manufacturing site near Wilmington, it is shutting down a titanium dioxide production line in New Johnsonville, Tennessee.
The Edge Moor closing will affect some 200 employees and 130 contractors. The company said it will redeploy employees when possible and offer severance benefits otherwise. No employees in Tennessee will be affected.
Chemours says it expects $45 million in annual cost savings and about $110 million non-cash charges related to the facility closing in the third quarter. Additional restructuring and other charges related to severance, decommissioning and site redevelopment are estimated at around $80 million.