Chemtura details restructuring efforts, considers future M&A

摘要

Chemtura on 13 November said it will slash manufacturing costs by about $50 million/year, or about 10% of the total, as part of a restructuring program. The restructuring will also cut selling, general, and administrative costs by about $12 million/year and cut $15 million/year in stranded costs left after the divestiture of Chemtura's agricultural chemicals business. The company views the restructuring as preparation for what chairman and CEO Craig Rogerson calls "act two," which will likely involve a sale, merger, or significant acquisition, he adds.