Chemtura (Middlebury, Connecticut / USA; www.chemtura.com) has outlined plans to expand its global production of antioxidants and UV stabilisers and found a buyer for its PVC additives business. The antioxidants and UV stabilisers expansion will support global growth, said Peter Smith, head of the company’s global antioxidant and UV stabiliser businesses. “Today’s leading polymer producers require their suppliers to supply product globally and be committed to innovation,” he added.

As part of the initiative, Chemtura said it will add new capacity for alkylated phenol, the key raw material for the manufacture of antioxidants, and a new range of specialty alkylated phenols at its site in Catenoy / France. The company, which is operating under Chapter 11 bankruptcy protection, said it plans to produce its new “Weston” 705 phosphite antioxidants at multiple sites around the world. In addition, it has entered a cooperation agreement with Everspring Corp of Taiwan to develop and manufacture a range of phenolic antioxidants, including “Anox” 20 and Anox PP18.

Chemtura is also expanding its own production of “Alkanox” 240 phosphite antioxidants in Asia and the Middle East.

In addition, Chemtura has found a buyer for its PVC additives business. The business will go to a holding backed by the chemical company Artek Surfin Chemicals (Mumbai; www.artekchemicals.com) and the New York investment firm Aterian Investment Partners Distressed Opportunities, as both companies reported. According to the news agency Bloomberg the price tag is USD 16.2m in cash and includes the assumption of certain liabilities. The offer out-bid SK Capital Partners (New York / USA; www.skcapitalpartners.com), which had previously been named as lead bidder – see Plasteurope.com of 06.01.2010. The divestment is expected to be completed in the second quarter of 2010.