01 May 2013 15:04 [Source: ICIS news]
HOUSTON (ICIS)--Chemtura has completed the $200m (€152m) sale of its antioxidant and UV stabilizers business - including dedicated manufacturing plants in the US, France, and Germany - to affiliates of investment firm SK Capital Partners, the US-based specialty chemical firm said on Wednesday.
"This divestiture completes the first of our portfolio transformation actions, which will simplify our portfolio, position us to better exploit secular industry growth trends in our chosen areas of market focus, benefit from exposure to the faster growing regions, and continue to deliver margin expansion to meet our performance goals," said Chemtura CEO Craig Rogerson.
Chemtura announced last November that it was planning to sell the business to SK.
($1 = €0.76)
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