Chemtura acquire bromine assets in India

Chemtura to acquire bromine assets in India

4:35 AM, 27th September 2012
Chemtura to acquire bromine assets in India
Craig A Rogerson, Chairman, President and Chief Executive Officer, Chemtura.

PHILADELPHIA, US: Chemtura Corporation will acquire the bromine assets of Solaris ChemTech Industries Limited (SCIL), India’s leading manufacturer of bromine and bromine derivatives. The acquired business will become an integral part of Chemtura’s Great Lakes Solutions business. The transaction subject to customary conditions is expected to close by the end of 2012.

The SCIL acquisition includes two manufacturing facilities, a well-established R&D centre and a multi-products facility in Gujarat, India. The new subsidiary will be headquartered in New Delhi. “The acquisition of SCIL’s bromine assets will further strengthen our bromine position and provide customers with increased security of supply through further diversification of our bromine supply sources,” said Craig A Rogerson, Chairman, President and Chief Executive Officer, Chemtura.

“This acquisition provides an established bromine and derivative position in India. Through the application of our technology, we can improve productivity and efficiency, creating significant value. It also gives access to substantial brine reserves to fuel future growth of the business. This will also strengthen Chemtura’s prospects for expansion across the portfolio of Chemtura businesses,” added Rogerson.

“This acquisition is a strong fit with Chemtura’s overall strategic focus on serving the transportation, energy, electronics, and agriculture markets. The incremental bromine assets also bolster our abilities to meet growth in customer requirements including the emerging global demand for bromine derivatives for mercury control in coal-fired power plants,” said Anne Noonan, Vice President of Strategic Business Development and President of Great Lakes Solutions, Chemtura.

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