Chemtura buys further into bromine
Deal struck with Solaris ChemTech in India
Chemtura has entered into a definitive agreement to acquire the Bromine & Bromine Chemicals division of Solaris ChemTech Industries, India’s largest maker of bromine and bromine derivatives. Terms were not disclosed. The new business will become part of Great Lakes Solutions, which markets all of Chemtura’s bromine-based flame retardaants and other products.
Craig Rogerson, chairman, president and CEO, said that Chemtura is “uniquely positioned to benefit from the capabilities of this business”. The company hitherto had lacked any manufacturing footprint in India, although it has been actively boosting its presence across high-growth regions of the world.
“Through the application of our technology, we can improve productivity and efficiency, creating significant value. It also gives access to substantial brine reserves to fuel future growth of the business,” Rogerson said. In addition, the incremental assets will support Chemtura in supplying growing demand for bromine derivatives in new markets, like mercury control in coal-fired power plants.
Headquartered in New Delhi, the acquired division has two manufacturing facilities, an R&D centre and a multi-products facility, all in Gujarat state. They manufacture liquid bromine, hydrobromic acid, n-propyl bromide, tetrabromo bisphenol A and speciality bromine chemicals for agrochemicals, pharmaceuticals, flame retardants and other applications.