Chemours CEO on GenX: 'That's a permitting issue we have in NC' - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

Chemours CEO on GenX: 'That's a permitting issue we have in NC'

(Source: WECT) (Source: WECT)
WILMINGTON, NC (WECT) -

Mark Vergnano, the CEO of Chemours, conducted a rare interview on the air Friday with CNBC, but people who tuned in hoping to hear his thoughts on GenX water contamination were most likely disappointed.

Vergnano briefly spoke about GenX, an unregulated compound that Chemours dumped into the Cape Fear River, but only in the context of the company's wastewater disposal permit.

"From our standpoint, that's a permitting issue we have in North Carolina," Vergnano told CNBC. "We'll work with the authorities on that and I'm convinced we'll come up with the right decisions with them in terms of how to do that."

The NC Department of Environmental Quality moved to revoke Chemours' permit in mid-November after the company failed to comply with the permit and neglected to report a spill at its Fayetteville Works facility.

NCDEQ cited Chemours for failing to report that spill, which resulted in elevated concentrations of GenX at the company's primary wastewater discharge outfall.

In the CNBC interview, Vergnano mentioned his company's expected growth following Senate's recent approval of changes to the US tax code.

"When we look across the next three years, for us, we're looking at the growth these businesses are really going to generate, the cash it's gonna generate, how we best use that cash, which is gonna be dividends and share buybacks for our shareholders, but also significant growth in the businesses that we have," Vergnano said.

Vergnano also noted that he expects Chemours to have enough money to cover numerous lawsuits that have been or will be filed because of GenX.

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