2007-12-21 Manufacturing News

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Specialty chemicals producer considers biz alternatives

Chemtura, a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products, to review strategic alternatives.

Chemtura Corporation, one of the largest publicly traded specialty chemicals companies in the United States, announces that its Board of Directors has authorized management to consider a wide range of strategic alternatives available to the company to enhance shareholder value. In support of this ongoing initiative, a Special Committee of independent directors of the Board of Directors has been formed to oversee the process. To assist in this process, Chemtura has retained the services of Merrill Lynch & Co., which is acting as its exclusive financial advisor.

Chemtura (NYSE: CEM) is one of the world’s largest producers and marketers of specialty chemicals, petroleum, plastic and rubber additives, including flame retardants; a leading manufacturer of pool and spa products; a global leader in seed treatment and miticides in the agricultural market; the largest component supplier to the lubricants industry; and a top global producer of urethane polymers.

Strategic alternatives to be considered may include, among others, select business divestitures, value-creating acquisitions, changes to the company's capital structure, or a possible sale, merger or other business combination involving the entire company.

There can be no assurance that this review will result in any specific transaction. The company does not expect to disclose any further developments with respect to the exploration of strategic alternatives unless and until its Board of Directors has approved a transaction or other strategic alternative.

Chemtura manufactures and markets products that make other products better in the agricultural, automotive, construction, consumer, packaging and industrial markets.

Chemtura Corporation, with 2006 sales of $3.5 billion, a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products has sales offices and manufacturing, administrative, and research and development facilities in every region of the world.

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