20 February 2009 22:40 [Source: ICIS news]
Connecticut-based Chemtura said the NYSE alerted it that its share price had remained below $1.00/share (€0.79/share) for 30 consecutive days.
The company has six months to bring its share price above $1.00/share before being removed from the exchange, according to Chemtura.
Moody’s Investors Services lowered its ratings for Chemtura on 5 February due to $370m in maturing debt and weak sales.
The company reported sales of $690m for the three months ended 31 December, down from $891m in 2007 fourth-quarter.
Chemtura stock closed at 62 cents/share on the NYSE on Friday with 242m share outstanding.
($1 = €0.79)For more on Chemtura visit ICIS company intelligence
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