This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Chemtura Corporation Dedicates New Production Plant For Petroleum Additives And Urethanes In Nantong, China

Supporting its commitment to customers in China and the greater Asia-Pacific region, Chemtura Corporation (NYSE: CHMT) (Euronext: CHMT), a leading global specialty chemicals company based in Philadelphia, Pennsylvania, today held the grand opening of its new multipurpose manufacturing facility in the Nantong Economic and Technological Development Area.

“Chemtura aims to create value for customers and other stakeholders by supporting its business growth with increased manufacturing capacity in faster-growing regions,” said Craig A. Rogerson, Chemtura Chairman, President and Chief Executive Officer. “The completion and opening of our Nantong facility underscores this commitment and allows us to work closer with customers, bring them innovative solutions, and help them to be more competitive and successful.”

The state-of-the-art facility, located in Jiangsu Province 80 miles northwest of Shanghai, will consist of three production units supporting Chemtura’s Industrial Performance Products segment, which includes petroleum additive and urethane products. Rogerson said, “It is our intention and hope that this will also be the footprint that the other businesses in our portfolio will use when they come into the region.”

The petroleum additives business requires local manufacturing and storage capabilities for some of its product lines in order to meet customer demand. These include synthetic finished fluids (refrigeration lubricants, air compressor lubricants and gear oils) and calcium sulfonate complex grease.

“Local manufacturing capacity for synthetic lubricants is required for the business to respond to the market’s demand for shorter lead times,” said Simon Medley, Senior Vice President of Industrial Performance Products. “Installation of grease capacity in China provides Chemtura’s customers with a more secure global supply capability, and places capacity in the region with the highest growth rate.”

The first unit began producing calcium sulfonate grease in August, with production ramping up to commercial scale in the fourth quarter this year.

Growth in the urethanes division, including its low-free (LF) prepolymer urethanes, is driven by the commercialization of Chemtura’s high-performance, greener Adiprene® Duracast™ product line coupled with increasing global and regional demand for its LF products. Additional LF prepolymer manufacturing capacity in China will allow Chemtura to continue to grow its most advanced product lines and places capacity in a region with strong demand growth, while preserving existing capacity elsewhere to continue supplying customers in other regions.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs