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Indian Firm Acquires Chemtura’s PVC Additives Assets
1:25 PM MST | February 26, 2010 | Nancy Seewald
Artek Surfin Chemicals (Artek; Mumbai) has partnered with private equity firm Aterian Investment Partners (New York) to acquire Chemtura’s polyvinyl chloride (PVC) additives business. The purchase price is $16.2 million in cash, and the assumption by Artek of certain liabilities including certain pension obligations and environmental liabilities, according to a Chemtura SEC filing. Those liabilities were previously estimated to total about $34 million-$45 million. The deal is expected to close in the second quarter. Chemtura had planned to sell the...
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