Chemtura exits PVC additives

摘要

After an auction process, Chemtura has finally sold its PVC additives business to Artek Surfin Chemical of India and Aterian Investment Partners. In December it was announced that the business had been sold to SK Atlas and SK Capital Partners. However, Chemtura had filed a motion with the bankruptcy court, which set up SK Capital as the “stalking horse” bidder in an auction process. Evidently, Artek and Aterian were the winners in this process. Artek paid $16.2 M and assumed some liabilities, including some pension obligations and environmental liabilities.