Crompton Announces Sale of Industrial Specialties Business.

Business Editors

Crompton Corporation Crompton Corporation, formerly Crompton and Knowles, is a chemical research, production, sales and distribution company headquartered in Middlebury, Connecticut. The company produces specialty chemicals used for polymers, fire suppressants and retardants, pool and spa water (NYSE NYSE

See: New York Stock Exchange : CK) announced today that it has sold its Industrial Specialties business to Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. Surface Chemistry LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control for $95 million. Crompton retained receivables and payables valued at approximately $10 million. Proceeds from the sale will be used to reduce debt. The transaction, which was previously approved by U.S. and other competition authorities, closed today.

"This sale represents an important step in our portfolio realignment re·a·lign
tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns
1. To put back into proper order or alignment.

2. To make new groupings of or working arrangements between. and debt reduction activities," said Vincent A. Calarco, Crompton chairman, president and chief executive officer. "We were pleased to find a strategic buyer like Akzo Nobel, who will develop the business to the benefit of our Industrial Specialties employees and customers."

Crompton Corporation is a $2.7 billion global marketer of specialty chemicals, polymer products and processing equipment. More information about the company can be found at www.cromptoncorp.com.

Certain statements made in this release are forward-looking statements 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. that involve risks and uncertainties, including, but not limited to, expected restructuring activities, and other risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These statements are based on currently available information and the Company'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 the Company.

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Publication:	Business Wire
Geographic Code:	1USA
Date:	Jun 28, 2002
Words:	224
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