Apr. 17, 2014, 7:47 AM
- Chemtura (CHMT) agrees to sell its agrochemicals business to Platform Specialty Products (PAH) for ~$1B, as CHMT moves to focus on industrial chemicals such as fumigants and lubricants.
- The agrochemicals unit last year generated revenue of ~$450M and EBITDA of ~$100M.
- PAH management has made clear its ambition to grow into a leading player in the specialty chemical sector via acquisitions.
- The deal will be paid for with $950M in cash and 2M PAH shares.
May. 15, 2013, 9:59 AMChemtura (CHMT) pops 5% higher at the open after it acquires UP Chemical's 50% stake in DayStar Materials, a South Korean manufacturer and marketer of high-purity metal organic precursors for the LED market. CHMT says the deal takes advantage of fully integrated infrastructures and feedstock supply. | Comment!
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