Chemtura to restructure antioxidants business

Chemtura Corp., based in Middlebury, Conn., USA, revealed plans to reorganize its global supply chain for standard antioxidants, with the aim of reducing costs and optimizing its global manufacturing footprint. Through the restructuring, the company aims to meet customer needs better. The reorganization is expected to result in charges, principally severance costs, of approximately US$15-20 million and accelerated depreciation of approximately US$30-35 million in the second and third quarters of 2007. Changes include the closing and divesting of selective sites in Europe, as well as potential investments in other parts of the world. The changes will affect the companys manufacturing facilities at Pedrengo and Ravenna, Italy, and Catenoy, France. (June 4, 2007)