Company News

Chemtura restructures to maintain competitive
Speciality chemicals and additives producer Chemtura has realigned its operations into two business groups: Performance Products and Engineered Products.

Performance Products consists of consumer products, additives, urethanes and antioxidant/ultraviolet plastic additives businesses, while Engineered Products consists of the flame retardants, crop protection, organometallics and PVC/surfactants businesses.

Chairman Craig A. Rogerson said the realignment is targeted on driving improved operational performance despite the difficult economic conditions confronting the global economy and our industry. “It positions our best leaders to work on the specific needs of each of our product businesses and will provide a foundation for growth as demand recovers. In the near term, Chemtura remains focused on implementing our previously announced initiatives to reduce cash fixed costs by approximately US$50 million and generate cash through working capital improvement, reduced capital expenditures and potential asset sales," he said.