Compton Acquires Great Lakes Turns Chemtura to Become the Third Largest Fine Chemicals Company in the United States
2022-12-12 06:07:53
After spending 2 billion U.S. dollars to complete the acquisition of Dahu Chemical, Compton became Chemtura this month. Chemtura's annual sales revenue was approximately $3.7 billion, making it the third-largest fine chemicals company in the United States following public trading of Rohm and Haas and Engelhard.
It is reported that Chemtura is a combination of the words "chemistry" and "future." Former Compton CEO Robert said that “selecting this name represents our determination to look to the future and will become the world's best specialty chemical company. We are in the presence of high added value chemicals such as plastics and oil additives, In the areas of fuels and water treatment chemicals, the new company will carry forward and consolidate its global strength in these areas."
One important task that accompanies the new company is the reconfiguration of human resources. To control costs and ensure the efficient operation of the company, Chemtura will reduce 600 jobs in the following year, that is, lay off 8% from the current 7,300 jobs.
Earlier in its merger with the Great Lakes, Compton merged its Davis Standard Polymer Equipment business with 810 employees in April this year into its joint venture with private investment firm Hamilton Robinson; its refined products business It was sold to Sun Capital Partners in the previous month.
It is reported that Chemtura is a combination of the words "chemistry" and "future." Former Compton CEO Robert said that “selecting this name represents our determination to look to the future and will become the world's best specialty chemical company. We are in the presence of high added value chemicals such as plastics and oil additives, In the areas of fuels and water treatment chemicals, the new company will carry forward and consolidate its global strength in these areas."
One important task that accompanies the new company is the reconfiguration of human resources. To control costs and ensure the efficient operation of the company, Chemtura will reduce 600 jobs in the following year, that is, lay off 8% from the current 7,300 jobs.
Earlier in its merger with the Great Lakes, Compton merged its Davis Standard Polymer Equipment business with 810 employees in April this year into its joint venture with private investment firm Hamilton Robinson; its refined products business It was sold to Sun Capital Partners in the previous month.
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