15 May 2013 13:30 [Source: ICIS news]
HOUSTON (ICIS)--US specialty chemicals firm Chemtura has acquired the remaining 50% of DayStar Materials, taking control of the South Korean company, Chemtura said on Wednesday.
DayStar Materials manufactures high-purity metal organic precursors for the light-emitting diode (LED) market.
Chemtura acquired the stake from Korean manufacturer UP Chemical for an undisclosed sum. Daystar was founded in 2011 as a joint venture between Chemtura and UP.
DayStar will be a part of Chemtura’s organometallic specialties business.
"This transaction leverages Chemtura’s proprietary technology and takes advantage of fully integrated infrastructures and feedstock supply, by which we plan to meet essential marketplace and customer requirements and position ourselves for further profitable growth initiatives within the electronic-grade metal organic markets," said Chemtura CEO Craig Rogerson.
Chemtura intends to establish fully integrated manufacturing, quality, service and distribution capabilities in Asia, supporting a full electronic-grade trialkyl product portfolio of trimethylgallium, triethylgallium, trimethylaluminum and trimethylindium.
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