Chemours enjoyed its best quarter since spinning off from DuPont a little over a year ago.
The Wilmington-based chemical company announced a $204 million profit in its third quarter earnings report released Monday.
Chemours President and CEO Mark Vergnano credits the strong report to continued demand for its Opteon refrigeration line and cost-cutting efforts.
The company’s plan to reduce costs has trimmed expenses by more than $100 million - and about $60 million of those overall savings were realized in the third quarter.
It’s only the second profitable quarter Chemours has had since it separated from DuPont in July 2015. In the second quarter this year, the company reported an $18 million loss, and in the third quarter last year it showed a $29 million loss.
Chemours announced in August it will keep its headquarters in Wilmington. The state is offering the company a grant of nearly 8 million dollars as long as it maintains 900 jobs in the First State through 2020. The company currently has 1,000 Delaware employees.
