PHILADELPHIA--(BUSINESS WIRE)--Chemtura Corporation (NYSE: CHMT) has signed a Letter of Intent with Archean Group, headquartered in Chennai, India, to establish a strategic alliance in bromine and brominated derivatives. This alliance will build upon Archean’s marine chemical facility, located in the State of Gujarat in the Rann of Kutch, which produces sulphate of potash.
The alliance will develop in two phases beginning with an initial long-term bromine sourcing alliance between the two companies that will provide Chemtura’s Great Lakes Solutions business with a strong position to respond to global customer demand from a cost-competitive, robust and consistent Indian supply position. In the second phase, this alliance will extend to a joint venture leveraging Great Lakes Solutions’ technology strength in bromine and brominated derivatives and Archean’s premier reputation for maximizing the use of available resources while ensuring human and societal benefits. In addition, Archean has an excellent manufacturing management capability and an established position in sulphate of potash, which is supported by the state and central governments.
This alliance further strengthens Great Lakes Solutions’ position as the most versatile bromine and brominated derivatives supplier in the world. With its U.S. operations capable of producing 100,000MT of bromine annually, and with long-term access via strategic sourcing agreements for U.S. brominated derivatives and to the Dead Sea’s bromine, Great Lakes Solutions will now add to its portfolio the ability to offer bromine from the Indian subcontinent.
“We have made significant investments in our U.S. facilities in the form of brine infrastructure upgrades and retrofit of existing assets to produce innovative and sustainable flame retardants. This, coupled with expansion of our specialized container fleet, the strength of our existing brine field rights, the acquisition of certain brine leases in 2009, and the long-term viability of our existing brine wells, enhances our already solid position to sustainably deliver bromine and brominated derivatives from South Arkansas for decades to come,” said Anne Noonan, president, Great Lakes Solutions.
“The addition of a strategic supply position in India, coupled with our current long-term supply strengths in the U.S. and from the Dead Sea, provides us with a unique supply footprint to market globally. We remain committed to a sustainable position, leveraging our strength in innovation, manufacturing and customer focus to expand our global position. The recent launch of our new EmeraldTM series of innovative and sustainable flame retardants, coupled with this strategic Asian footprint alliance, improves our ability to serve growing demand in our current industries and emerging high demand segments, such as mercury removal from coal-fired power station emissions,” said Craig Rogerson, chairman, president and CEO of Chemtura Corporation.
Great Lakes Solutions
Great Lakes Solutions, a Chemtura business, is a global and innovative leader in safe and cost-efficient flame retardant products and solutions for use in applications such as electronic components, electrical enclosures and building products, including insulation and furniture foam. Great Lakes Solutions offers greener, high-performing solutions under the new Emerald™ product series that provide sustainable differentiation in the marketplace without sacrificing performance or quality. For more information about Great Lakes Solutions, please visit www.greatlakes.com.
Chemtura Corporation
Chemtura Corporation, with 2010 sales of $2.8 billion, is a global manufacturer and marketer of specialty chemicals, agrochemicals and pool, spa and home care products. Additional information concerning Chemtura is available at www.chemtura.com.
About Archean Group
Archean Group (www.archeangroup.com) with its corporate office at Chennai, Tamil Nadu in India, is engaged in the business of industrial salt, minerals like coal and iron ore, shipping, industrial chemicals, and fertilizers and building materials. It has operations across the globe and has been in the forefront of sustainable development coupled with continuous growth in all its businesses. Archean Chemical Industries Private Limited, a company belonging to The Archean Group, is planning and implementing the Marine Chemicals Project in the state of Gujarat, India.