IHS Chemical Week

People & Business :: M&A

Indian owner buys out Galata Chemicals

2:06 PM MST | February 10, 2014 | Vincent Valk

Artek Surfin (Mumbai), an Indian specialty chemicals maker, has bought out private equity firm Aterian Investment Partners’ (New York) 50% stake in Galata Chemicals, the former PVC additives business of Chemtura, for an undisclosed sum. Artek Surfin and Aterian bought the business, which generated $236 million in revenues in 2009 and $374 million in 2008, from Chemtura in April 2010. The two have each held a 50% ownership stake in Galata since then. "Over the past four years, Aterian and Artek have successfully partnered with the Galata Chemicals...

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