NEW YORK, February 26, 2010 /PRNewswire/ -- Artek Surfin Chemicals Ltd. and Aterian Investment Partners are pleased to announce that they have jointly agreed to purchase the PVC additives business of Chemtura Corporation.
The PVC Additives business, which generated 2008 revenues of US$374 million, is a leading global producer of additives for numerous PVC and other polymer applications. The expansive product portfolio includes heat stabilizers, plasticizers and impact modifiers, under trade names such as Mark(R), Drapex(R) and Blendex(R). The business has production facilities in Taft, Louisiana and Lampertheim, Germany with over 250 employees worldwide.
Vishal Goenka, Director of Artek Surfin Chemicals stated, We are very pleased in the manner in which the deal has proceeded so far. We see significant synergies in leveraging our manufacturing expertise and market channels with those of the North American and European Operations. Additionally, this deal enhances our ability to service the fast-growing PVC and polymer markets in Asia and expand our product offering globally.
Michael Fieldstone, Principal of Aterian Investment Partners said, We are extremely excited about this transaction. The PVC additives business is a global leader in its market, with a reputation for manufacturing high quality, innovative products for over 50 years. We look forward to working with its adept management team and dedicated employees to leverage these strong attributes and to build a world class enterprise by providing exceptional service to its customers.
Artek Surfin Chemicals and its group company Sterling Auxiliaries are one of the largest specialty chemical companies in India, focusing on the surfactants, alkyl alkanol amines, textile chemicals, metal finishing and other specialty chemical sectors. Artek has substantial experience developing and operating chemical plants and distributing and marketing specialty chemical products internationally.
Aterian Investment Partners is a private capital firm that invests in businesses across a range of sectors. The principals of Aterian have extensive experience acquiring and building world-class businesses in chemicals and related industrial segments.
Chemtura, with 2008 sales of US$3.5 billion, is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products. Additional information concerning Chemtura is available at http://www.chemtura.com.
SOURCE: Aterian Investment Partners, LP
CONTACT: Michael Fieldstone, Aterian Investment Partners, Office:+1-212-547-2806, mfieldstone@aterianpartners.com
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