19 Nov 2007
CHEMTURA LIMITS TERM FOR FIXED PRICES ON METAL ALKYL CO-CATALYSTS
Chemtura Corporation (NYSE.CEM) will limit the term for fixed-price sales of Metal Alkyls, effective December 01, 2007 or as contracts allow.
Metal Alkyls, used as Ziegler-Natta co-catalysts in the polymer industry, have traditionally been made pursuant to long term fixed pricing. “This does not fit with a business that is investment intensive and exposed to raw material fluctuations,” says Anne Noonan, President of Polymer Additives for Chemtura. “Our customers know that Chemtura is investing heavily in this core business to ensure continued security of supply on a global scale. It is therefore paramount that Chemtura achieves re-investment economics, and a key element of this is the ability to increase price, as and when market conditions and or raw material costs dictate.”
Customers with questions should please consult their Chemtura representative.
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About Chemtura Corporation
Chemtura Corporation (NYSE:CEM), with 2006 sales of $3.5 billion, is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products.
Please visit www.chemtura.com
Forward-Looking Statement
Certain statements made in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, general economic conditions; the outcome and timing of antitrust investigations and related civil lawsuits to which Chemtura is subject; the ability to obtain increases in selling-prices; pension and other post-retirement benefit plan assumptions; energy and raw material prices and availability; production capacity; changes in interest rates and foreign currency exchange rates; changes in technology, market demand and customer requirements; the enactment of more stringent environmental laws and regulations; the ability to realize expected cost savings under Chemtura’s cost-reduction initiatives; the amount of any additional earn-out payments from General Electric Company from the sale of the OrganoSilicones business; the ability to reduce Chemtura’s debt levels; the ability to successfully integrate the Crompton and Great Lakes businesses and operations and achieve anticipated benefits from the merger, including costs savings and synergies; and other risks and uncertainties detailed in filings with the Securities and Exchange Commission by Chemtura or its predecessor companies. These statements are based on Chemtura’s estimates and assumptions and on currently available information. The forward-looking statements include information concerning our possible or assumed future results of operations, and Chemtura’s actual results may differ significantly from the results discussed. Forward-looking information is intended to reflect opinions as of the date this release was issued and such information will not necessarily be updated by Chemtura.
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