Chemtura Corporation is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products. It had sales of $2.8bn and around 4,400 employees in 2010. Its 235m shares of common stock are traded on the New York Stock Exchange under the symbol CEM. Key facilities are located in North America, Latin and South America and Asia-Pacific.
Chemtura was formed on 1 July 2005 from the merger of Crompton Corporation and Great Lakes Chemical. Company movements
Please see Chemtura files reorganisation plan to exit bankruptcy on ICIS news.
In May 2010, Chemtura completed the sale of its polyvinyl chloride (PVC) additives business to Galata Chemicals for $16.2m (€12.2m). For more on this please see US Chemtura completes sale of PVC additives business for $16.2m on ICIS news.
In April 2009, a US bankruptcy court approved a $400m (€304m) financing package for Chemtura. (For more on this story please go to ICIS news).
In March 2009, Chemtura's US operations filed for bankruptcy protection.
In January 2009, Chemtura announced a realignment of its businesses into two groups: Performance Products and Engineered Products.
In March 2008, Chemtura completed the sale of its Oleochemicals business to PMC Group for an undisclosed amount.
Also in March 2008, Croda International sold its 46.5% interest in Baxenden Chemicals to Chemtura for £13m ($26m/€16.9m).
In January 2008, Chemtura sold its fluorochemicals business to DuPont. The sale included Chemtura's plant in El Dorado, Arkansas, south of Little Rock. Chemtura did not disclose the financial terms of the deal.
Chemtura is split into the following:
Chemtura is a supplier of water-treatment sanitisers and related products for recreational and commercial pool and spa applications, including residential pools and spas, water parks, resorts and municipal pools. This business includes pool and spa products and household cleaners.
The Petroleum Additives business is a component supplier to the lubricants industry. Its products comply with increasingly demanding government-mandated emissions and fuel-economy standards, protect braking systems from wear and tear, and extend the life of machinery operating at high temperatures or operating continuously.
It claims to be a world leader in polyol esters used for demanding synthetic lubricant applications, including aviation turbine oils and lubricants for environmentally friendly hydrofluorocarbon (HFC) refrigeration compressors. Chemtura also claims to be a world leader in high-performance synthetic lubricants used in aviation and industrial applications.
A global supplier of urethanes offering more than 300 urethane polymer products to the marketplace.
Antioxidant/Ultraviolet plastic additives
Chemtura’s plastic additives portfolio covers the entire supply chain, from monomers and polymerisation to finishing and compounding. The company claims to be a world leader in polyvinyl chloride (PVC) additives and to offer one of the widest ranges of polyolefin and engineering polymer additives in the world. It also states that it is a leading producer of acrylonitrile-butadiene-styrene (ABS)-impact modifiers and the largest producer of aluminium alkyls in Europe.
A global supplier of flame retardants which reduce or eliminate the flammability of a wide variety of combustible materials. Its additives reduce the chances of a fire starting by providing increased ignition resistance and delaying the spread of flame.
Chemtura’s Crop Protection business is a global leader in seed treatment and miticides and focuses on high-value, niche crops, such as nuts, citrus, grapes and cotton. Its products are formulated for specific crops and the growing conditions of particular geographic regions.
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Chemtura states that it has made “progress” towards achieving its long-term strategic objectives, despite facing a number of challenges in its business, such as escalating raw material and energy costs. (Edited from: “Dear shareholders”, Chemtura annual report). ICIS also provides you with key financial data listed in table form.
More about Chemtura Strategy & Financial Highlights
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