OPTIMA CHEMICAL ACQUIRES MANUFACTURING ASSETS IN WEST VIRGINIA

Norwalk, Connecticut, June 29, 2015 – Charles Hinnant, President and Owner of Charkit Chemical Corporation and its sister companies, Optima Chemical Company and Arran Chemical, announced that on June 12, 2015, Optima Chemical acquired manufacturing assets in Belle, West Virginia from The Chemours Company (“Chemours”), a wholly owned subsidiary of DuPont.

In making the announcement, Mr. Hinnant stated that the acquisition now gives Optima a second manufacturing site, gaining the additional capacity that has been needed for some time. “Acquiring these assets means increased manufacturing capacities for Optima, helps facilitate Optima’s growth and further strengthens our manufacturing partnership with Chemours and DuPont.”

West Virginia Governor Earl Ray Tomblin commented, “West Virginia has a long tradition of manufacturing excellence that continues today and will well into the future. Our workers are the best in the world, and we are pleased Optima recognizes that the Mountain State is a great place to do business.”

Mr. Hinnant explained that there are two distinct chemical units within the newly acquired facility: one with FIFRA registration, allowing Optima to manufacture and offer agriculture intermediates immediately; and another that is not currently in use, which can provide capabilities similar to those available from Optima’s plant in Douglas, Georgia. The Belle facility features Hastelloy manufacturing equipment, bulk capabilities and rail and barge service.

Gene Williams, President of Optima, has named Doug Cochran, Optima’s Vice President of Business Development, as designated leader of the startup integration with responsibility for this new Optima plant. Mr. Williams said there is a possibility that key personnel may be moving from the Douglas facility to support the operation in Belle, West Virginia.

Mr. Cochran said, “The acquisition situates Optima in the Kanawha Valley, known as an important area for chemical manufacturing. We conducted a careful evaluation of facilities, workforce, infrastructure, safety and environmental culture and local and state government relationships before making the transaction. After doing so, we are confident that the facility offers a unique set of capabilities and equipment that will allow Optima to better serve existing customers and to attract new customer looking for the capabilities we are now able to offer. ”

In conclusion, Mr. Hinnant stated, “Optima Chemical has given us good reason to be proud. Since its founding in 1997, it has been on a steady path of growth, serving an increasing number of clients that are representative of an expanding range of industries. Their Georgia facilities have frequently been cited for safety and environmental excellence by the Georgia Department of Labor and the Society of Chemical Manufacturers & Affiliates.”

Chemours is on track to be spun off on July 1, 2015. DuPont has announced its plans to separate Chemours through a spin off on July 1, 2015; as a result, Chemours anticipates becoming an independent, publicly traded company on the same date. For more information about Chemours, visit Chemours.com.

For more information about Optima Chemical, please contact Doug Cochran by email at [email protected].