Platform to Take Chemtura’s Agriculture Arm

U.S.-based Platform Specialty Chemicals has agreed to acquire the agricultural chemicals business of compatriot Chemtura for around $1 billion in cash and stocks.

The activities of Chemtura AgroSolutions, which reported sales of around $449 million and adjusted EBITDA of more than $100 million in 2013, include seed treatments and crop protection products for a variety of applications.

Following the sale, the core business of Connecticut-based Chemtura will be focused on two segments, Industrial Performance Products (IPP), which manufactures petroleum additives and urethanes, and Industrial Engineered Products (IEP), which produces flame retardants and brominated products, as well as organometallics.

These units generated $1.8 billion in sales and $200 million of adjusted EBITDA.

The sale of the agrochemicals business will enable Chemtura to become a pure player in industrial specialty chemicals, the company's CEO, Craig Rogerson, said.

Innovation Pitch

The Start-up Platform for Chemistry & Life Sciences
Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

Interview

Stability in Motion
Strategic Response to a Shifting Pharma Landscape

Stability in Motion

Stefan Oelrich, Member of the Board of Management and President Pharmaceuticals, Bayer, discusses navigating external volatility, reshaping its internal structures, and investing in future-ready capabilities to ensure sustainable growth.

most read