Chemtura forms $55m agchem joint venture with Italy’s Isagro

26 January 2011 16:39  [Source: ICIS news]

TORONTO (ICIS)--US specialty chemicals producer Chemtura and Italy’s Isagro have formed an agrochemicals joint venture to speed up the development and commercialisation of active ingredients and new molecules, they said on Wednesday.

Chemtura and Isagro said in a joint statement that the equal joint venture, named ISEM, had an equity value of €40m ($55m).

Milan-based Isagro had contributed commercially registered herbicide Orthosulfamuron and fungicide Valifenalate as well as related intellectual property to the venture.

Isagro CEO Giorgio Basile said the alliance with Chemtura was consistent with his company’s strategy to focus on its core business of researching and developing new molecules and promoting them globally.

Chemtura executive vice president Chet Cross said the alliance with Isagro was “the next step” in growing Chemtura’s agrochemicals business.

Last year, Chemtura rebranded its agrochemicals division to Chemtura AgroSolutions.

In November, Chemtura completed its financial restructuring and emerged from US Chapter 11 bankruptcy protection.

($1 = €0.73)

For more on Chemtura and other producers visit ICIS company intelligence
To discuss issues facing the chemical industry go to ICIS connect


By: Stefan Baumgarten
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index