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Business

Chemtura Emerges From Bankruptcy

by Marc S. Reisch
November 15, 2010 | APPEARED IN VOLUME 88, ISSUE 46

A little more than a year and a half after it filed for bankruptcy reorganization, Chemtura has emerged from court protection. “With the successful completion of our financial restructuring, we have significantly reduced our debt, improved our cost structure, and resolved a considerable amount of environmental and other liabilities,” CEO Craig A. Rogerson says. The firm went bankrupt in March 2009 after a sharp drop in orders during the recession compromised its ability to repay a $374 million bond (C&EN, March 23, 2009, page 11). Shares of the new Chemtura now trade on the New York Stock Exchange. Another victim of the 2009 credit crunch, LyondellBasell Industries, emerged from bankruptcy in April.

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