Chemtura Files for
Bankruptcy Protection

The US Bankruptcy Court for the Southern District of New York has approved all of Chemtura's motions, allowing the company to continue normal business operations during its restructuring process.

Chemtura filed for Chapter 11 Bankruptcy protection on Wednesday.

The company will pay all outstanding employee wages, health benefits, and certain other employee obligations. Chemtura's U.S. and worldwide operations are expected to continue without interruption during the restructuring process.

The Middlebury, Connecticut-based company said that its non-U.S. subsidiaries were not included in the filing and will not be subject to the requirements of the U.S. Bankruptcy Code.

Chemtura was formed in 2005 with the merger of Crompton Corporation and Great Lakes Chemical Corporation. Crompton was formed in 1999 by the merger of Crompton & Knowles Corporation and Witco Corporation.

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