Chemtura completes Kaufman acquisition

With its purchase of specialty chemicals company Kaufman Holdings Corp., Chemtura Corp. gains access to two new markets: high-growth lubricants for CFC-free refrigeration compressors and high-purity synthetic lubricants. The acquisition includes Kaufman’s two operating companies: Hatco Corporation, a worldwide leading producer of polyol esters used for technically demanding synthetic lubricant applications, including aviation turbine oils and lubricants for HFC refrigeration compressors and Anderol Inc., a worldwide leader in high-performance, synthetic lubricants used in demanding aviation and industrial applications, such as compressors, bearings, gears and food-grade machinery. “The acquisition of these companies aligns with our strategy to add high-performing businesses to our portfolio,” said Chemtura Chairman and CEO Robert L. Wood. Chemtura, based in Middlebury, Conn., completed the acquisition in an all-cash transaction on January 31, 2007. Kaufman has approximately 300 employees and 2006 revenues in excess of US$200 million. “The acquisition brings together complementary technology and manufacturing experience and will result in our ability to offer customers a broader portfolio of products, technology and service,” said Janet Mann, general manager and vice president of Chemtura Performance Specialties, which includes the Petroleum Additives/Lubricants business. Hatco and Anderol will become part of the Performance Specialties group of businesses. (January 31, 2007)