The Chemours Company (NYSE:CC) Q3 2023 Earnings Call Transcript

Vincent Andrews: Awesome. Appreciate the color. Do you mind also providing some additional detail on the $1 million of run rate cost savings expected for next year? You mentioned earlier during the call that the facility closure may be $50 million to $100 million of savings. If I heard you right, is there a range for that $100 million of cost savings that you’re expecting next year? And I mean, is there, you know, some upside to that depending on what other actions you’re taking?

Jonathan Lock: Yes, so the cost savings that we’re committing to for next year is $100 million on a run rate basis, $50 million of that is driven by the Kuan Yin facility closure that we announced on our last call. So we are planning on delivering a $100 million of run rate savings here next year. And as I said a couple of questions ago, you know, we’re going to continue to build on that number and we look forward to giving updates as we get more line of sight to incremental run rate savings beyond the $100 million as we go through the next couple of quarters.

Vincent Andrews: Okay, thank you.

Operator: And we have reached the end of our question-and-answer session. Mr. Mark Newman, I turn the call back over to you for some final closing remarks.

Mark Newman: Thanks everyone for joining us today. Look, the year has been a challenging year and The Chemours team has really responded well in focusing on the things we control, in driving cost reduction in TT, and in being focused on how we service the growth in TSS and APM, as we go into next year. And we’ll continue to look forward to staying in touch with you and to continue to drive real value for our shareholders as we go forward. Thank you.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.