Al-Zamil and Chemtura Plan Study of New Metal Alkyls Plant |
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Chemtura Corp.
199 Benson Rd.
Middlebury, CT, 06749
USA
Press release date: November 13, 2006
RIYADH, Saudi Arabia-- Nov. 13, 2006--Al-Zamil Group and Chemtura Corporation (NYSE: CEM) of the U.S.A. announced today an agreement to further develop formation of a joint venture to build a world-scale metal alkyls manufacturing facility in Jubail Industrial City, Saudi Arabia. The facility would be designed to satisfy growing regional demand for aluminium alkyls that serve as specialty catalysts for a variety of olefins, including polyethylene and polypropylene.
The Chemtura - Al-Zamil joint venture would license Chemtura's proprietary technology and serve as the sales and marketing arm of Chemtura's aluminium alkyls in Saudi Arabia and other Gulf Coast Countries. Chemtura would be responsible for sales of the joint venture outside the Gulf Coast Countries and would provide technical service and product applications knowledge.
The Al-Zamil Group and Chemtura also are partners in an antioxidants manufacturing facility in Saudi Arabia that produces stabilizers products and has been in operation since 2000.
Al-Zamil Group is a diversified industrialist group established in both intermediate chemicals through direct investment, and in basic chemicals through two established Saudi joint stock companies that Al-Zamil group incorporated with others.
Chemtura Corporation, with pro forma 2005 sales of $3.9 billion, is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products. Please visit www.chemtura.com.
For any clarification on this press release, you can reach Mr. Osama Al-Zamil on Tel No.00966-1-472 5555 Ext.300; e-mail: OSAMA@ZAMIL.COM
CONTACT:
Chemtura Corporation
Americas:
Jon Amdursky,
+1 203-573-3305,
Jon.Amdursky@Chemtura.com
Europe, Middle East & Asia/Pacific:
Janet Gilboy,
+1 44-161-875-3229,
Janet.Gilboy@Chemtura.com
SOURCE: Chemtura Corporation
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