Chemtura to Acquire Bromine Assets of Solaris ChemTech
Chemtura Corporation today announced that it has entered into a definitive agreement to acquire the bromine assets of Solaris ChemTech Industries, an Indian manufacturer of bromine and bromine derivatives. The acquired business will become an integral part of Chemtura's Great Lakes Solutions business.
The Bromine and Bromine Chemicals division of Solaris ChemTech was established in the mid-1990s and has grown to be India's premier manufacturer of bromine. The acquisition includes two manufacturing facilities, a well-established R&D center and a multi-products facility in the State of Gujarat. The new subsidiary will be headquartered in New Delhi.
The transaction is subject to customary closing conditions and the parties expect to close by the end of 2012.