KIK Custom Products Inc., a contract and private-label manufacturer of consumer, institutional, and industrial products based in Toronto, has entered an agreement to purchase Chemtura Corp. 's BioLab consumer products business for $315 million. The deal is set to close Dec. 31. Proceeds from the sale, along with other potential entities, will be used to return capital to Chemtura's shareholders, strengthen and grow the company's remaining businesses as well as to pay down debt. "This represents the next step in our plan to simplify and transform our portfolio, positioning us to better benefit from secular industry growth trends in our chosen areas of market focus and create a sustainable competitive advantage, " said Chemtura's chairman, president, and CEO, Craig A. Rogerson. Following the sale, Chemtura's main businesses will focus on two market segments: industrial performance products (IPP) ( e. g. petroleum additives and urethanes products) and industrial engineered products (IEP) ( e. flame retardants and brominated products, and organometallics).
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The company dates back to Crompton Loom Works, a firm created in 1857 by George Crompton, inventor of the Crompton Loom. The firm expanded by producing dyes (sold to the textile industry) and other specialty chemicals. The firm has done business as Crompton & Knowles and as the Crompton Corp. External links
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Categories: Companies listed on the New York Stock Exchange Chemical companies of the United States Companies based in Philadelphia, Pennsylvania
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Chemtura Corporation — (NYSE|CEM) is a marketer of specialty chemicals, polymer products and processing equipment for a variety of industries. The company formed in 2005 from the merger of two other corporations Great Lakes Chemical Corporation of West Lafayette, … … Wikipedia
Crompton Corporation — Type merged Founded 1837 Founder(s) William Crompton … Wikipedia
Great Lakes Chemical Corporation — is a chemical research, production, sales and distribution company that produces specialty chemicals used for polymers, fire suppressants and retardants, pool and spa water purification systems and various other applications.
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-based subsidiary of KIK Custom Products Inc., dedicated to pool care products. "We are excited to partner with Clorox to take their iconic brand to market in pool care, " said Stratis Katsiris, president of KIK's Classic Division. Dawn Willoughby, senior vice-president and general manager of The Clorox Company's cleaning division, added: "This initiative builds on KIK's capabilities in pool products and enables us to introduce the Clorox brand into a new lifestyle category for consumers. "
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At Chemtura, our focus is on excellence in everything we do, and performance improvement is our mission: for our customers who seek business solutions; for our employees who want to grow and learn; and for investors who look for innovative thinking, strong planning and solid results. Chemtura's vision is to create sustainable competitive advantage for our customers by combining our experience and expertise in cutting-edge technologies with a deep understanding of their end-use applications, making us an indispensable partner in solving their toughest problems. Chemtura Corporation was acquired by LANXESS for $2. 5B on Sep 25, 2016. This deal was done in Cash. Transaction Name Chemtura Corporation acquired by LANXESS Acquired by Announced Date Sep 25, 2016 Price $2. 5B
Chemtura Corporation (NYSE: CEM) is a marketer of specialty chemicals, polymer products and processing equipment for a variety of industries. The company formed in 2005 from the merger of two other corporations -- Great Lakes Chemical Corporation of West Lafayette, Indiana, and Crompton Corporation of Middlebury, Connecticut. Headquartered in Middlebury, Chemtura employs some 6, 200 people internationally and had total sales in 2006 of approximately USD $3. 7 billion. Additional recommended knowledge
Key Chemtura products include plastic additives, flame retardants, pool and spa products, agricultural seed treatments and miticides, lubricants and urethane polymers. The products are used in automotive, construction, consumer, agricultural, packaging and industrial markets.
KIK entered the pool care business in 2011 with the acquisition of Chem-Lab Products Inc., and currently manufactures and sells Kem-Tek brand pool products in the U. S. The company network includes 14 integrated manufacturing facilities located throughout North America, which produce the company's various product lines, including bleach, household cleaners and sanitizers, pool and spa water treatment products and additives, personal care and over-the-counter medicated and pharmaceutical products. "This acquisition will be an important step in the next-stage growth of our company, " said Jeff Nodland, KIK's CEO. "We expect it to contribute to generating strong free cash flow while diversifying our product portfolio and expanding our customers and channels. " This acquisition comes after the company's announcement in August of an initiative with The Clorox Company that will see a new line of Clorox™ Pool&Spa products launched in 2014 at select retailers in Canada and the U. The launch is limited to pool and spa chemicals and accessories under the Clorox™ Pool&Spa brand and will be represented in the marketplace by Easy 1 2 3 Pool Care LLC, the U.
Chemtura AgroSolutions has deep roots that reflect more than 100 years of growth and innovation. Chemtura Corporation was formed in 2005 with the merger of Crompton Corporation and Great Lakes Chemical Corporation. Chemtura AgroSolutions' lineage also includes Crompton & Knowles Corporation, Uniroyal Chemical Corporation and Witco Corporation. Chemtura AgroSolutions 199 Benson Road Middlebury, CT 06749 Phone: (800)423-8569
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