By: ICN Bureau
Last updated : March 06, 2018 8:18 pm
Chemtura Corporation has signed a Letter of Intent(LoI) with Archean Group, headquartered in Chennai, India, to establish a strategic alliance in bromine and brominated derivatives. This alliance will build upon Archean's marine chemical facility,
Chemtura Corporation has signed a Letter of
Intent with Archean Group, headquartered in Chennai, India, to establish a
strategic alliance in bromine and brominated derivatives. This alliance will
build upon Archean?s marine chemical facility, located in the State of Gujarat
in the Rann of Kutch, which produces sulphate of potash.
The alliance will develop in two phases beginning with an initial long-term
bromine sourcing alliance between the two companies that will provide Chemtura?s
Great Lakes Solutions business with a strong position to respond to global
customer demand from a cost-competitive, robust and consistent Indian supply
position. In the second phase, this alliance will extend to a joint venture
leveraging Great Lakes Solutions? technology strength in bromine and brominated
derivatives and Archean?s premier reputation for maximizing the use of available
resources while ensuring human and societal benefits. In addition, Archean has
an excellent manufacturing management capability and an established position in
sulphate of potash, which is supported by the state and central governments.
This alliance further strengthens Great Lakes Solutions? position as the most
versatile bromine and brominated derivatives supplier in the world. With its
U.S. operations capable of producing 100,000MT of bromine annually, and with
long-term access via strategic sourcing agreements for U.S. brominated
derivatives and to the Dead Sea?s bromine, Great Lakes Solutions will now add to
its portfolio the ability to offer bromine from the Indian subcontinent.
"We have made significant investments in our U.S. facilities in the form of
brine infrastructure upgrades and retrofit of existing assets to produce
innovative and sustainable flame retardants. This, coupled with expansion of our
specialized container fleet, the strength of our existing brine field rights,
the acquisition of certain brine leases in 2009, and the long-term viability of
our existing brine wells, enhances our already solid position to sustainably
deliver bromine and brominated derivatives from South Arkansas for decades to
come," said Anne Noonan, president, Great Lakes Solutions.
"The addition of a strategic supply position in India, coupled with our current
long-term supply strengths in the U.S. and from the Dead Sea, provides us with a
unique supply footprint to market globally. We remain committed to a sustainable
position, leveraging our strength in innovation, manufacturing and customer
focus to expand our global position. The recent launch of our new EmeraldTM
series of innovative and sustainable flame retardants, coupled with this
strategic Asian footprint alliance, improves our ability to serve growing demand
in our current industries and emerging high demand segments, such as mercury
removal from coal-fired power station emissions," said Craig Rogerson, chairman,
president and CEO of Chemtura Corporation.