Chemtura to Acquire Bromine Assets of Solaris ChemTech Industries Ltd.
Chemtura Corporation announced that it has entered into a definitive agreement to acquire the bromine assets of Solaris ChemTech Industries Limited. 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 acquisition of Solaris ChemTech’s bromine assets will further strengthen our bromine position and provide our customers with increased security of supply through further diversification of our bromine supply sources,” said Craig A. Rogerson, Chemtura Chairman, President and Chief Executive Officer.
“This acquisition is a strong fit with Chemtura’s overall strategic focus on serving the transportation, energy, electronics, and agriculture markets,” said Anne Noonan, Chemtura Vice President of Strategic Business Development and President of Great Lakes Solutions.
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