Seattle, WA, USA--(Jobwerx News)--Combined forces equal the fourth-largest publicly traded US specialty chemicals company and the world's largest plastics additives company.

Crompton Corporation and Great Lakes Chemical Corporation have merged to form Chemtura, one of the largest publicly traded specialty chemicals companies in the United States and one of the top producers and marketers of plastics additives in the world.

Continue to use the Crompton and Great Lakes Web sites until a new Chemtura Web site is available at the end of the year.

Crompton Corporation is a marketer of specialty chemicals, polymer products, and processing equipment, providing the solutions, service and value our customers need to succeed. Crompton Corp provides solutions.

Great Lakes Chemical Corporation is a leading supplier of pool and spa products a top marketer of niche agricultural products, a leader in the petroleum additives markets, and a top marketer and producer of urethane polymers. From clearer water for recreation and industry, to household cleaning solutions, to fire protection for people, buildings, and mission-critical assets, to plastics additives that provide products with a longer life and greater stability.

“Chemtura is a unique new company with a portfolio of global businesses that have achieved leading positions in high-value market niches,” said Chemtura Chairman, President and Chief Executive Officer Robert L. Wood. Chemtura holds leading positions in several high-value specialty chemical niche businesses, including plastics additives, petroleum additives, flame retardants and pool chemicals. Additionally, the company has strong positions in castable urethanes and crop protection chemicals.

“Since we announced our agreement to merge March 9, integration teams have been working intensely to create a new company with a new organizational design and new work processes. We are building a world-class organization and adopting best business practices in everything we do. As we said in March, this is a transformational merger. Our vision is to create the world’s best specialty chemicals company, not simply to add companies together.

“As of today, while we still have a number of jobs to fill, our organization is almost completely formed and employees at every level are poised to take the actions needed to deliver strong financial results. Our integration work will create immediate value through the recognition of significant synergies throughout the company. As a result, we are increasing our synergy estimate to $150 million from the original target of $90 million to $100 million,” Wood said.

By combining workforces, streamlining work processes and utilizing more efficient systems, the company expects to reduce its total number of employees by about 600 worldwide, or approximately 8 per cent, over the next year from its current level of approximately 7,300 people.

The new company’s strategy is to develop a portfolio of global businesses with leading positions in high-value market niches. Chemtura holds leading positions in high-value specialty chemical niche businesses, including plastics additives, petroleum additives, flame retardants and pool chemicals. Additionally, the company has strong positions in castable urethanes and crop protection chemicals.

Chemtura Corporation, with pro forma 2004 sales of $3.7 billion, is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products. Headquartered in Middlebury, Conn., the company has 7,300 employees around the world.