Expands Specialty Businesses, Advances Development Strategy for More Sustainable Products
Chemours today announced that it has completed its purchase of Chemtura Corporation's fluorine chemicals business. The move is part of Chemours's strategy to expand its fluorochemicals business offerings; enhance its presence in specialty businesses such as the fire extinguishants, pharmaceutical propellants and fluoro-intermediate markets; and leverage the assets and technologies included in the acquisition for the development of more sustainable fluorochemical materials, such as low global warming potential mobile air-conditioning fluids, foam expansion agents and refrigeration technologies.
Financial terms were not disclosed.
The acquisition includes all of Chemtura's fluorine business, along with the fluorine chemicals production unit that is part of Chemtura's manufacturing site in El Dorado, Ark., which will be fully integrated into Chemours's operations. All fluorine chemicals intellectual property rights will be transferred to Chemours. Approximately 25 Chemtura employees will become part of Chemours Fluoroproducts.
"We are pleased to bring together these complementary businesses and technologies for our customers," said Cindy Green, vice president and general manager – Chemours Fluoroproducts. "With this acquisition, we will be able to provide our global customers with an expanded portfolio of products and continue to develop and introduce new, more sustainable solutions that combine strong product performance, reduced environmental footprint and economic viability to the fluorochemical markets we serve."
Chemours is a leader in the development of more sustainable fluorochemical products for applications serving consumer and industrial markets in refrigeration and air conditioning, foams, aerosol propellants and cleaning solvents. Chemours is committed to developing more sustainable products that reduce its environmental footprint and that of its customers. Chemours markets its products globally under the brands Suva™ refrigerants, Dymel™ propellants, Formacel™ foam expansion agents, FE™ fire extinguishants, Zyron™ electronic gases, and Vertrel™ specialty fluids.
Chemours is a science-based products and services company. Founded in 1802, Chemours puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, Chemours offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
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