The polymer and chemical producer, Crompton Corp is acquiring and merging with Indianapolis-based Great Lakes, a specialty chemicals company to form a new entity called 'Chemtura'. This endeavor shall be shared on a on a 51% is to 49% basis respectively and is foreseen to be the third-largest U.S. specialty chemicals company in the making.
The European Union Commission cleared the plan of this merger during the course of this month due to a strong competition in the industry from U.S. and Asian producers.
Crompton, with sales over US $2.5 billion in 2004, is likely to pay about US$1.8 billion to acquire Great Lakes for US$1.54 billion. The new company will be situated in Connecticut.
17-Jun-05 
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