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Business
Chemtura exits equipment business
November 6, 2006
| A version of this story appeared in
Volume 84, Issue 45
Chemtura has sold its majority interest in Davis-Standard, a joint venture for polymer-processing equipment, to its partner Hamilton Robinson for about $72 million in cash and an additional $8 million that is contingent upon postclosing determinations. Davis-Standard had revenues in its last fiscal year of approximately $250 million. Separately, Chemtura CEO Robert Wood says the company's third-quarter and second-half earnings will be "substantially below prior expectations."
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