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People & Business :: M&A
Israel Chemicals Buys Chemtura Out of Fire Retardants Joint Venture
8:56 AM MST | December 8, 2011 | Natasha Alperowicz
Israel Chemicals says it has bought Chemtura’s 50% share in their Tetrabrom Technologies bromine compounds joint venture becoming the sole owner of the operation. Tetrabrom Technologies operates a tetrabromobisphenol-A (TBBA), fire-retardant production plant at Ramat Hovav, Israel, with capacity for 45,000 m.t./year of TBBA. Financial terms were not disclosed. Tetrabrom is expected to record sales of $160 million this year. Israel Chemicals is a leading producer of bromine with about one-third of the global capacity. TBBA accounts for about 25% of the...
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