Chemtura Announces Expected Sale of Its Organic Peroxides Business to PERGAN GmbH

08-May-2007

In order to place greater focus on its core businesses, Chemtura Corporation announced that it has signed a definitive agreement to sell its organic peroxides business to German organic peroxides maker PERGAN GmbH in an all-cash transaction for an undisclosed amount. Included in the transaction will be Chemtura's Marshall, Texas manufacturing facility. The transaction, which requires the approval of certain regulatory bodies, is expected to close within 90 days. Proceeds from the sale will be used primarily for debt reduction.

The organic peroxides business being sold had revenues for 2006 of approximately $20 million. Chemtura employs approximately 40 people in its Marshall, Texas facility.

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