Issue Date: March 10, 2008
Chemtura Makes Portfolio Moves
Chemtura has acquired a 46.5% stake in Baxenden Chemicals from partner Croda for $26 million. The transaction will give Chemtura full ownership of the polyurethanes specialist, which has annual sales of $70 million and employs 212 people in Accrington and Droitwich, England. Chemtura says the integration will broaden its polyurethanes portfolio. Separately, Chemtura has completed the sale of its oleochemicals business, with 260 employees and sales of $175 million, to PMC Group for an undisclosed price. In December, Chemtura hired Merrill Lynch to help it assess strategic options, including a possible sale of the entire firm.
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