Chemtura Fluorochemicals Sold To DuPont

Chemtura has sold its fluorochemicals business to DuPont for an undisclosed sum. The business, which includes a plant in El Dorado, Ark., had sales in 2006 of about $56 million. About 25 Chemtura employees will join DuPont.

"The sale is another step in our ongoing portfolio refinement initiative," Chemtura Chief Executive Officer Robert L. Wood says. Chemtura sold several businesses in 2007: organic peroxides in May, ethylene-propylene rubber in June, and optical monomers in October.

In addition, Chemtura recently announced plans to sell its oleochemicals business to PMC Group North America. In fact, the entire company could be sold, depending on the outcome of a review of strategic options launched in December with the assistance of Merrill Lynch.

DuPont says it bought the business as part of a strategy to expand its fluorochemicals business and enhance its presence in fire-extinguishing chemicals, pharmaceutical propellants, and other specialty markets. The company says Chemtura's technology may enable the development of more sustainable fluorochemicals, such as auto air conditioner fluids with low global warming potential.

Cynthia C. Green, vice president and general manager of DuPont FluoroProducts, says the new business will allow her company to market fluorochemicals that combine "strong product performance, reduced environmental footprint, and economic viability."