Chemtura sells Consumer Products Segment

Chemtura Corporation has completed the sale of its Consumer Products business, including dedicated manufacturing plants in the U.S. and South Africa, to KIK Custom Products Inc. (KIK) for an adjusted purchase price of $300 million. The $15 million reduction reflects the resolution of certain pre-closing matters by the parties. The purchase price is subject to a post-closing adjustment for working capital and assumed pension liabilities. “Strategically, we can now focus on a series of markets that benefit from global and secular growth trends where we have the right to play and are positioned to win through our product technologies, operating scale, and market access,” said Craig A. Rogerson, Chemtura’s Chairman, President and CEO. Chemtura began accounting for its Consumer Products segment as a “discontinued operation” in its third quarter 2013 financial statements. Chemtura Corporation, with 2012 sales of $2.2 billion, is a global manufacturer and marketer of specialty and agro chemicals. www.chemtura.com