Chemtura enters into agreement to acquire bromine assets of Solaris ChemTech

Chemtura Corp., a global manufacturer and marketer of specialty chemicals, agrochemicals, as well as pool, spa and home care products, announced that it has entered into a definitive agreement with Solaris ChemTech Industries Limited, India’s leading manufacturer of bromine and bromine derivatives.
Under the terms of the agreement, Chemtura will acquire the bromine assets of Solaris, and the acquired business will be integrated into Chemtura’s Great Lakes Solutions business.
Solaris ChemTech established its Bromine and Bromine Chemicals division in the mid-1990s, and has since grown to become India’s premier manufacturer of bromine. Included in the acquisition are two manufacturing facilities, a well-established R&D center and a multi-products facility in the state of Gujarat. Chemtura’s new subsidiary will be headquartered in New Delhi.
“The acquisition of Solaris ChemTech’s bromine assets will further strengthen our bromine position and provide our customers with increased security of supply through further diversification of our bromine supply sources,” said Craig A. Rogerson, chairman, president and chief executive officer of Chemtura.
“Chemtura is uniquely positioned to benefit from the capabilities of this business. This acquisition provides an established bromine and derivative position in India today. 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. Establishing additional footprint in the Asia Pacific region is further evidence of our commitment to growth in faster growing regions and will also strengthen Chemtura’s prospects for expansion across the portfolio of Chemtura businesses,” Rogerson said. (September 26, 2012)