DuPont Buys Chemtura Fluorine Unit
Friday February 1, 12:36 pm ET
DuPont Closes Acquisition of Chemtura Corp.'s Fluorine Chemicals Unit for Undisclosed Amount
WILMINGTON, Del. (AP) -- Seed and chemical maker DuPont & Co. said Friday it has completed the purchase of Chemtura Corp.'s fluorine chemicals business for an undisclosed amount.
The acquisition, which will expand DuPont's fluorochemicals business, includes a production unit in El Dorado, Ark.; intellectual property rights; and about 25 Chemtura employees.
The business will expand DuPont's presence in specialty businesses such as fire extinguishants and pharmaceutical propellants.
Chemtura's fluorochemicals business had revenue of about $56 million in 2006. Chemtura said it will record the sale in its 2008 first-quarter financial statement.
DuPont shares gained 44 cents to $45.62 in morning trading. Chemtura shares jumped 43 cents, or 6.4 percent, to $7.13. Shares have traded between $5.77 and $12.33 in the past 12 months.
Source: Air Products
Engineering News Archive