Chemtura Announces Long-Term Bromine Collaboration with TETRA Technologies
Chemtura Corporation announced that it has signed long-term supply and purchase agreements with TETRA Technologies, Inc. for a number of products, including bromine. Under the agreements, which are each 20 years or more in length:
- TETRA will acquire its bromine requirements from Chemtura;
- TETRA will make a significant investment in the construction of a processing facility on property adjacent to Chemtura's El Dorado, Arkansas facility for the extraction of calcium chloride and other salts from tail brines purchased from Chemtura;
- TETRA will make an investment in Chemtura's bromine operations;
- TETRA will sell sodium chloride and magnesium hydroxide extracted from the tail brine to Chemtura for use as a feedstock for chlorine production and as a flame retardant and/or neutralization agent, respectively; and
- Chemtura will have the right to participate in future development or purchase of TETRA's brine leases should TETRA elect to jointly develop or divest.
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