Chemtura to invest US$100 million to expand bromine production in Gujarat

U.S.-based Chemtura Corp., which has acquired the bromine division of Avantha Group’s Solaris ChemTech, plans to expand production in the facilities in Gujarat, India, and will invest up to Rs540 crores (US$100 million) for the project.
Craig Rogerson, chairman, president and CEO of Chemtura Corp., said the investment will also be used to expand bromine production at Khavda and Ratadia in Kutch, Gujarat, as well as for expanding the multi-product manufacturing facility at Baroda, Gujarat.
The entire project will be spread over a period of three years. Bromine and bromine derivatives are used in the manufacture of agro-chemicals, pharmaceuticals, flame retardant and plastic applications.
The sale of Solaris ChemTech for Rs800 crores (US$142 million) is expected to materialize over the next two to three months.
Chemtura’s Indian business currently accounts for a small fraction of the company’s US$3 billion revenue. But it has its eyes on the rapidly growing Indian market. With a goal of raising its revenues in India from US$50 million to US$500 million in the next five years, Chemtura intends to gain entry into other sectors in the country, such as petroleum additives and lubricants, agrochemicals and organo metallics. (November 4, 2012)