MIDDLEBURY, Conn. (May 21) — Chemtura Corp. has withdrawn its Flexzone antiozonant and Danyang, China, rubber chemicals operations from its planned sale of assets to Lion Copolymer L.L.C.
Chemtura´s EPDM rubber, Celogen foam agent and the Geismar, La., facility remain part of the purchase agreement with Lion Copolymer, the company said.
The decision to amend the purchase agreement was made mutually as the two companies continued to consider which assets would be most advantageous for them to own, according to a Chemtura spokeswoman. "Any agreement is a negotiation," she said.
Chemtura will continue to honor its commitments to its customers for Flexzone antiozonants and Danyang rubber chemicals while it evaluates its options for those businesses, she said. The company expects to complete its sales agreement with Lion Copolymer by June 30.