Chemours’ latest earnings report shows it lost $29 million in the third quarter.
A decline in sales fueled the loss for the Wilmington-based chemical company. Sales in the third quarter this year were $1.5 billion, down from $1.6 billion in the third quarter last year. That’s a 9 percent drop.
Chemours’ Titanium Technologies unit – which produces its top product,titanium dioxide – took a hit. That unit saw an 18 percent decline in sales compared to a year ago.
It’s the second straight quarterly loss for Chemours, which previously reported a $18 million dollar net loss in the second quarter.
Chemours completed its spin-off from DuPont in July and a month later, announced plans to cut costs by shuttering its longtime plant at Edge Moor in North Wilmington.
That has cast doubt on whether the company will remain headquartered in Delaware's largest city. Chemours has pledged to stay in Wilmington at least through next year.
