Artek to buy remaining stake in Galata Chemicals

10 February 2014 21:31 Source:ICIS News

HOUSTON (ICIS)--Artek Surfin is buying Aterian Investment Partners's stake in Galata Chemicals, giving it full ownership in the US-based plastics additives producer, the company said on Monday.

The deal should close in March, Artek Surfin said. Financial terms were not disclosed.

Galata was created in 2010 with the sale of Chemtura's polyvinyl chloride (PVC) additives business to Artek and Arterian.

Galata operates plants in Taft, Louisiana, and Lampertheim, Germany. Its products include mixed metal heat stabilisers, organotin heat stabilisers, epoxidised soybean oil, polymer modifiers, tin catalysts and bio-based plasticisers.

Artek is a specialty-chemicals company based in India. Its products include surfactants, alkyl alkanol amines, textile chemicals and metal finishing chemicals.

By Al Greenwood