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Chemtura files plan of reorganization and disclosure statement


Philadelphia, Pennsylvania, USA
June 17, 2010

Chemtura Corporation, debtor-in-possession (Pink Sheets: CEMJQ), today announced that it and 26 of its U.S. affiliates (together, the "Company") have filed a Joint Plan of Reorganization (the "Plan") and Disclosure Statement with the United States Bankruptcy Court for the Southern District of New York (the "Court"). The Plan is supported by the Company's official committee of unsecured creditors and the ad hoc committee of the Company's bondholders. The Company expects that, in the near term, the Court will schedule a hearing to consider approval of the Disclosure Statement. Accordingly, the Company remains on track to emerge from Chapter 11 protection in the coming months. The Company will continue to work with its official committee of equity security holders to address any concerns they may have about the Plan.

Chemtura provides under the Plan (subject to the conditions and qualifications set forth in the Plan and the Disclosure Statement) the potential to satisfy all creditors' claims in full, as well as offering value to equity holders.

"The filing of our Plan is a significant milestone in the Chapter 11 process, demonstrating Chemtura's progress toward emerging as a stronger, leaner global enterprise," said Craig A. Rogerson, Chemtura's Chairman, President and Chief Executive Officer. "We are pleased to submit the proposed Plan with the full support of both the unsecured creditors' committee and the ad hoc committee of bondholders. The Plan is a testament to the outstanding progress we have made in restructuring our finances and operations."

Mr. Rogerson added, "We appreciate the support of our major stakeholders and we look forward to continuing to work closely with them in order to successfully execute on our business plan to drive growth and long-term value creation. I thank our customers, suppliers, business partners and employees for their ongoing commitment to our company and for helping us build a stronger Chemtura."

The Disclosure Statement includes a historical profile of the Company, a description of proposed distributions to creditors and equity holders, and details of the "new" Chemtura, as well as many of the technical matters required for the solicitation process, such as descriptions of who will be eligible to vote on the Plan and the voting process itself.

Chemtura's Plan and Disclosure Statement are available free of charge at www.kccllc.net/chemtura. The Disclosure Statement is subject to approval by the Court, and the Plan is subject to confirmation by the Court. This press release is not intended as a solicitation for a vote on the Plan within the meaning of section 1125 of the Bankruptcy Code.

Chemtura Corporation, with 2009 sales of $2.5 billion, is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products. Additional information concerning Chemtura is available at www.chemtura.com.



More news from: Chemtura AgroSolutions


Website: http://www.seedquest.com/yellowpages/americas/usa/c/chemtura/default.htm

Published: June 17, 2010

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