Chemours Acquires ICOR International

A very interesting acquisition, as giant Chemours acquires a much smaller business with a good reputation for offering refrigerant solutions.

The Chemours Company, a global chemistry company with leading market positions in titanium technologies, fluoroproducts, and chemical solutions, announced today that Chemours has acquired ICOR International, a privately-owned leading supplier of branded, ozone safe refrigerants and related products for HVACR applications in North America.

“ICOR has developed an excellent reputation with contractors and equipment owners, has strong brands and an extensive distributor network, all of which will be a valuable addition to Chemours and enhances
our ability to meet our customer needs in North America,” said Diego Boeri, vice president of Chemours fluorochemicals business.

“Chemours is establishing itself as a new kind of chemistry company and we are excited to join them on this journey,” said Gordon McKinney, vice president of sales and COO of ICOR International. “This
acquisition clearly indicates the strategic long-term value that Chemours sees in our strong brands and customer-centric approach to the market.”

Among ICOR International's products are refrigerant-grade propane (R-290) and refrigerant-grade isobutane (R-600a), two alternative refrigerants that are winning greater acceptance for use in certain refrigeration applications.

Q&A

We obtained some additional commentary  from Joseph Martinko, NA General Manager – Fluorochemicals.

Q: Mr. McKinney states in the press release that Chemours is seeking to become “a new kind of chemistry company.” What does that mean? In what ways does Chemours want to change?
A: "As a spin-off from DuPont almost 3 years ago, Chemours has been built upon the values of entrepreneurship, customer focus and simplicity.  This acquisition allows us to add a highly focused, talented and energized organization to our existing market leading position.  This will enable us to expand our market presence, especially down the value chain, and accelerate our customer-centric strategy."

Q: Will ICOR continue to operate as ICOR?
A" "Our aim is to minimize disruption and remain focused on supporting our customers’ needs through the upcoming air conditioning season.   We are focused on ensuring that our customers will not see any significant changes in the way we service and support their accounts."

Q: In what ways will ICOR change?
A: "ICOR has developed a solid reputation with contractors and equipment owners, has strong brands, and an extensive distribution network.  We expect these elements will be a valuable addition to the Chemours refrigerant business, and enable us to further meet the needs of our customers in the value chain. Overall, ICOR will be a valuable addition to Chemours and to our customers in North America."

 

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