Chemtura parent to be sold

With the deal still in the early stages, administrators at the Elmira plant don’t yet know the impact of the sale of Chemtura Corp. to a German competitor.

Lanxess AG has agreed to buy Philadelphia-based Chemtura for about US$2.1 billion.

If the sale does go ahead, subject to shareholder and regulatory approval, it would see Lanxess essentially double the size of its chemical additives business. Chemtura specializes in lubricant additives and flame-retardant chemicals.

In Elmira, Chemtura’s Dwight Este said administrators don’t know yet how the sale might affect the local plant. The operation is no stranger to change, however, as it’s shifted banners from Uniroyal to Crompton Co. to Chemtura in the last couple of decades alone.