Written by Associated Press
(AP) — Chemours, the former performance chemicals unit of Dupont, has been named to the Fortune 500 list of America’s largest companies less than two years after its spinoff.
Company officials said Chemours, with $5.5 billion in revenue last year, ranks 482 on the list released Wednesday by Fortune Magazine.
Chemours president and CEO Mark Vergnano said the ranking reflects the execution of the company’s transformation plan, which focuses on reducing structural costs, growing market positions, optimizing its portfolio, refocusing investments and transforming its corporate culture.
Chemours eked out a slight profit last year, reporting net income of $7 million, or 4 cents per share, compared to a loss of $90 million, or 50 cents per share, in 2015. Sales declined 6 percent to $5.4 billion.