Markets
ICL

Chemtura Ceases Production of HBCD-Based Flame Retardants

Chemtura CorporationCHMT declared that it has stopped the manufacture and sale of Hexabromocyclododecane ("HBCD")-based flame retardant products. The company will permanently discontinue its HBCD-based flame retardants' production during or before the fourth quarter of 2015.

Per Chemtura, HBCD-based flame retardants have been facing increasing regulatory restrictions with regard to their usage. Moreover, owing to the availability of a greener alternative, the company's Emerald Innovation 3000 flame retardant is exposed to an unstable commercial environment. However, Chemtura stated that the sale of HBCD will go on until all inventories are used up.

In May 2015, Chemtura inked a letter of intent with Tosoh Corporation to build a long-term relationship for brominated flame retardant products and technologies in Japan. According to the letter of intent, Tosoh would be granted exclusive rights for the promotion and sale of Chemtura's Emerald Innovation 1000 flame retardant products to customers in Japan. Moreover, Tosoh would be granted a license for manufacturing and selling Emerald Innovation 1000 products to Japanese customers.

Chemtura, which is a global manufacturer and marketer of specialty chemicals, recorded net sales of $2.2 billion in 2014. The company remains focused on expanding in faster growing economies and markets to capture new opportunities, while establishing appropriate value-based pricing levels for its products. Chemtura is emphasizing on managing costs and improving operating efficiency.

Zacks Rank

Chemtura currently holds a Zacks Rank #2 (Buy).

Better-ranked companies in the basic materials sector include Israel Chemicals Ltd. ICL , Celanese Corporation CE and Daqo New Energy Corp. DQ . While Israel Chemicals sports a Zacks Rank #1 (Strong Buy), both Celanese and Daqo New Energy carry a Zacks Rank #2.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

CELANESE CP-A (CE): Free Stock Analysis Report

CHEMTURA CORP (CHMT): Free Stock Analysis Report

ISRAEL CHEM LTD (ICL): Free Stock Analysis Report

DAQO NEW ENERGY (DQ): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ICL CE DQ

Other Topics

Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More