The PVC additives business of specialty chemicals supplier Chemtura Corporation has been jointly purchased by Artek Surfin Chemicals Ltd. and Aterian Investment Partners.
Mumbai-based Artek Surfin Chemicals is 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. Aterian Investment Partners, headquartered in New York City, is a private capital firm that invests in businesses across a range of sectors.
Chemtura’s PVC additives business – including heat stabilizers, plasticizers and impact modifiers, under trade names such as Mark, Drapex and Blendex – generated revenues of US$374 million in 2008.
The business has production facilities in Taft, La., and Lampertheim, Germany and approximately 250 employees worldwide.
“We see significant synergies in leveraging our manufacturing expertise and market channels with those of the North American and European operations,” said Vishal Goenka, director of Artek Surfin Chemicals. “Additionally, this deal enhances our ability to service the fast-growing PVC and polymer markets in Asia and expand our product offering globally. 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."