CHEMTURA
Sale of PVC business completed / Buyers rename division “Galata Chemicals”
The divesture of Chemtura’s (Middlebury, Connecticut / USA; www.chemtura.com) PVC additives business to special chemicals company Artek Surfin Chemicals (Mumbai / India; www.artekchemicals.com) and the holding company Aterian Investment Partners (New York / USA; www.aterianpartners.com) – see also Plasteurope.com of 02.03.2010 – has been wrapped up, both sides report.
The business division has been renamed Galata Chemicals (www.galatachemicals.com), Artek announced, adding that Galata was one of the leading manufacturers of PVC additives, including heat stabilisers and plastisisers. The new company employs more than 250 workers at its plants in Taft / USA and Lampertheim / Germany. Chemtura said the final price tag amounted to USD 16.2m (about EUR 12.4m). An unspecified amount of debt was also transferred.
The business division has been renamed Galata Chemicals (www.galatachemicals.com), Artek announced, adding that Galata was one of the leading manufacturers of PVC additives, including heat stabilisers and plastisisers. The new company employs more than 250 workers at its plants in Taft / USA and Lampertheim / Germany. Chemtura said the final price tag amounted to USD 16.2m (about EUR 12.4m). An unspecified amount of debt was also transferred.
07.05.2010 Plasteurope.com [216178]
Published on 07.05.2010
German version of this article...