Chemtura May Acquire Indian Industrial Chemical Companies
According to Bloomberg, Chemtura Corp., a maker of specialty and farm chemicals, is seeking to acquire companies in India that make industrial chemicals in a bid to quadruple sales to $2 billion from the Asia-Pacific region by 2015. The company, based in Philadelphia, imports fire retardant, automotive and other industrial chemicals into India at present. India currently accounts for about $100 million of the company’s sales. Chemtura will spend as much as $250 million to grow its Asia-Pacific business in the five years to 2015, excluding acquisitions.