02 January 2014 14:04 [Source: ICIS news]
HOUSTON (ICIS)--Chemtura has completed the $300m (€219m) sale of its consumer products business to KIK Custom Products, the US-based specialty chemicals firm said on Thursday.
The company completed the transaction on 31 December, it said in a statement.
CEO Craig Rogerson said that Chemtura expects to return a “substantial portion” of the proceeds from the sale to shareholders.
“Strategically, we can now focus on a series of markets that benefit from global and secular growth trends where we have the right to play and are positioned to win through our product technologies, operating scale, and market access,” Rogerson added.
($1 = €0.73)
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