Middlebury,
Connecticut
March 24, 2006
Chemtura
Corporation
(NYSE:CEM) announces the acquisition of the Trace Chemicals
business from
Bayer CropScience
LP,
effective immediately. Terms of the transaction were not
disclosed.
Chemtura, already well known for its global expertise in seed
treatment, is rounding out its portfolio by acquiring Trace
Chemicals, a leader in farmer-applied seed treatments in the USA
market. "This acquisition allows Chemtura to focus on this
growing and important segment of the on-farm, seed treatment
business," says Mike McFatrich, global seed treatment product
manager.
"This is a strategic acquisition for our Crop Protection
business," said Marcus Meadows-Smith, Chemtura's executive vice
president of Crop Protection and Consumer Products. "The
acquisition of Trace expands our offerings in this important
niche market by providing immediate access to a high-quality
product portfolio."
The transaction includes the acquisition of the Trace seed
treatment product line and a 14-person formulation operation in
Pekin, Ill., as well as access by Chemtura to certain Bayer
CropScience active ingredients, registrations and trademarks.
Chemtura Corporation, with pro forma 2005 sales of $3.9
billion, is a global manufacturer and marketer of specialty
chemicals, crop protection and pool, spa and home care products. |
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