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Chemtura Divests Monomers

Photonics.com
Nov 2007
MIDDLEBURY, Conn., Nov. 1, 2007 -- Specialty chemical manufacturer Chemtura Corp. announced the sale of its optical monomers business to a Munich, Germany-based private equity firm in an all-cash transaction today for an undisclosed amount.

Included in the sale to Auctus Management GmbH & Co HG is Chemtura's Ravenna, Italy, manufacturing facility. Auctus formed the affiliate Acomon AG in Zug, Switzerland, to operate the optical monomers business, which had revenues of approximately $35 million in 2006 and employs about 45 people, mostly at the Ravenna facility. Optical monomers are used in a variety of applications, including lenses for eyewear, protection sheets for welding masks and screens, photographic filters, safety goggles and lab equipment.

Middlebury-based Chemtura said the sale will allow it to focus on its core businesses of chemicals for crop protection, pool, spa and home care products. Proceeds from the sale will be used primarily to reduce its debt, the company said. 

“Optical monomers is a very good business that just doesn’t fit our portfolio at this time,” said Chemtura Chairman and CEO Robert L. Wood. “We are pleased to be transferring the business to a buyer who is interested in growing it, which should benefit both customers and employees.”

For more information, visit: www.chemtura.com


GLOSSARY
photonics
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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