Chemtura (NYSE:CHMT) historically has operated as an industrial conglomerate. Chemtura's divisions had little operational overlap, and this complexity could early have led to a lower valuation within the marketplace. In response to slower growth and pricing pressures, Chemtura's management team has begun to streamline noncore businesses and to transform their portfolio into a pure play industrial company. Over the past year, Chemtura has completed the sale of two divisions, raising $406 million of capital, and is in the process of selling a third division, which I believe will generate in the range of $900 million to $1.2 billion in net proceeds. With this substantial chunk of capital, the company is going to be restructuring their balance sheet through...
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