Chemtura To Enlarge India Bromine Assets

Chemtura has reached a definitive agreement to acquire the bromine assets of India’s Solaris ChemTech Industries for $142 million. The deal, expected to close by the end of 2012, includes two bromine and bromine derivatives manufacturing sites and an R&D center in the state of Gujarat. About 300 workers will transfer to Chem­tura. Solaris’ chlor-alkali and phosphoric acid assets are not included in the deal. Chemtura says the acquisition will expand its existing footprint in Asia. About a year ago, Chemtura formed an alliance in bromine and brominated derivatives with Chennai, India-based Achean Group.