Chemtura Sells PVC Additives Business For $16M

Law360, New York (February 24, 2010, 6:32 PM EST) -- Following many rounds of auctioning, bankrupt chemical producer Chemtura Corp. has won court approval to sell its polyvinyl chloride additives business and related assets for $16.2 million in cash, along with assumed liabilities and other terms.

Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York signed off on the deal Tuesday, saying a joint venture of India-based chemical producer Artek Surfin Chemicals Ltd. and New York-based investment firm Aterian Investment Partners LLC had made the highest and best bid....
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