Chemtura Takes Actions to Improve Flame Retardant Profitability.MIDDLEBURY, Conn. -- Chemtura Corporation Chemtura Corporation (NYSE: CEM) is a marketer of specialty chemicals, polymer products and processing equipment for a variety of industries. The company formed in 2005 from the merger of two other corporations -- Great Lakes Chemical Corporation of West Lafayette, Indiana, (NYSE NYSE See: New York Stock Exchange :CEM CEM contagious equine metritis. CEM selective medium chocolate agar made with Eugon agar and 5% horse blood; used to cultivate Taylorella equigenitalis. ) today announced worldwide price increases of approximately 20%-40% on a wide range of brominated flame retardant Brominated flame retardants are produced synthetically in 70 variants with very varying chemical properties. There are several groups:
"This price increase is necessary to restore profitability and to better reflect the true value of these products in the high-performance end use applications where they are employed," said Myles S In Greek mythology, Myles was a son of Lelex, king of Laconia. He was brother to Polycaon, and was the father of Eurotas, who was father to Sparta after whom the city of Sparta was named. Myles was also known as the Miller, and has been regarded as the inventor of the mill. . Odaniell, executive vice president of Performance Chemicals. "Concurrently, we continue to work on improving the overall cost structure and manufacturing productivity of this business." Chemtura is a leading global producer of flame retardants Flame retardants are materials that inhibit or resist the spread of fire. Naturally occurring substances such as asbestos as well as synthetic materials, usually halocarbons such as polybrominated diphenyl ether (PBDEs), polychlorinated biphenyls (PCBs) and chlorendic acid with an aggressive commitment to technological innovation and product development. Its extensive line of products includes bromine-, phosphorus- and antimony-based flame retardants. Chemtura Corporation, with pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma 2004 sales of $3.7 billion, is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products. Headquartered in Middlebury, Conn., the company has 7,300 employees around the world. Additional information concerning Chemtura is available at www.chemtura.com. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Certain statements made in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, general economic conditions; the outcome and timing of antitrust investigations and related civil lawsuits to which Chemtura is subject; the ability to obtain increases in selling-prices; pension and other post-retirement benefit plan assumptions; energy and raw material prices and availability; production capacity; changes in interest rates and foreign currency exchange rates; changes in technology, market demand and customer requirements; the enactment of more stringent environmental laws and regulations; the ability to realize expected cost savings under Chemtura's cost-reduction initiatives; the amount of any additional earn-out payments from General Electric Company from the sale of the OrganoSilicones business; the ability to reduce Chemtura's debt levels; the ability to successfully integrate the Crompton and Great Lakes Great Lakes, group of five freshwater lakes, central North America, creating a natural border between the United States and Canada and forming the largest body of freshwater in the world, with a combined surface area of c.95,000 sq mi (246,050 sq km). businesses and operations and achieve anticipated benefits from the merger, including costs savings and synergies; and other risks and uncertainties detailed in filings with the Securities and Exchange Commission by Chemtura or its predecessor companies. These statements are based on Chemtura's estimates and assumptions and on currently available information. The forward-looking statements include information concerning our possible or assumed future results of operations, and Chemtura's actual results may differ significantly from the results discussed. Forward-looking information is intended to reflect opinions as of the date this release was issued and such information will not necessarily be updated by Chemtura. |
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