Posted in | News | Ferrous Alloys and Metals | Business | Chemistry | Petrochemicals

Sonneborn Acquires Few Product Lines of Chemtura’s Petroleum Additives Business

Editorial Checklist Reviewed
Jul 31 2010

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Chemtura Corporation, debtor-in-possession (Pink Sheets: CEMJQ) (“the Company” or “Chemtura”), today announced that it has completed the sale of the natural sodium sulfonates and oxidized petrolatum product lines of its Petroleum Additives business to Sonneborn Inc., an affiliate of private investment firm Sun Capital Partners, Inc.

The sale includes certain assets and the assumption of certain liabilities. Assets include the Petronate™ sodium sulfonate detergent and Oxpet™ oxidized petrolatum corrosion inhibitor brands, customer information, and working capital. Petronate™ emulsifiers are additives that are designed to provide emulsification for mineral oil and water based lubricant systems. Oxpet™ oxidized petrolatum corrosion inhibitors provide rust protection in formulating industrial metal protective compounds.

The transaction was recently approved by the United States Bankruptcy Court for the Southern District of New York.

Source:

http://www.chemtura.com/

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