Chemtura Announces Expected Sale of Industrial Water Additives Business
Industrial Water Additives had pro forma 2005 revenues of approximately $80 million. The letter of intent contemplates that no facilities will be included in the transaction and that Chemtura will continue to manufacture products in its Adrian, MI and Trafford Park, UK facilities and sell to the purchaser via a supply agreement. Industrial Water Additives' approximately 40 non-manufacturing employees are expected to become employees of the buyer.
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