PHILADELPHIA, April 9, 2015 (GLOBE NEWSWIRE) -- Effective immediately or as contracts allow, Chemtura (NYSE:CHMT) (Euronext:CHMT) is increasing its prices for new orders of selected bromine-based flame retardants and brominated performance products by up to $0.90/kg in all regions. Included with this increase are tetrabromobisphenol A (BA-59P®), tribromophenol (PH-73FF®), alkyl bromides, HBr 48%, as well as certain other products. This action follows upon Chemtura's recently announced price increases for bromine in the Asia Pacific region.
"This increase is necessary to support continued investment in our capital intensive business, as well as to support global product stewardship and advocacy efforts," said Vimal Sharma, general manager of Chemtura's Great Lakes Solutions business.
Additionally, as a result of rapidly growing supply chain pressures across the industry, Chemtura is developing a plan to ensure that it is able to satisfy contractually committed demand from contract customers and demand from other long-standing Chemtura customers. Depending on the product and the particular customer, such plans may include extended lead times and/or fair product allocation processes.
Chemtura Corporation, with 2014 sales of $2.2 billion, is a global manufacturer and marketer of specialty chemicals. Additional information concerning Chemtura is available at www.chemtura.com.
CONTACT: John Gustavsen Media Relations 203 573 3224 Matt Sokol Investor Relations 203 573 2153