Chemtura (CHMT) to Hike Prices of Bromine-Based Products - Analyst Blog

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Chemtura CorporationCHMT has announced that it will hike prices for new orders of some of its bromine-based flame retardants and brominated performance products by up to 90 cents per kilogram in all regions. This rise in prices will be effective as and when contracts permit. Some of the bromine-based products involved in the price rise are tetrabromobisphenol A, tribromophenol, alkyl bromides, HBr 48%, among others.

This increase in prices is pursuant to Chemtura's previously announced price rise for bromine in the Asia Pacific region. Moreover, according to Vimal Sharma, general manager of Chemtura's Great Lakes Solutions business, the price hike is required to support the sustained investments in capital intensive business, global product stewardship and advocacy efforts by the company.

Further, with rising supply chain pressures in the industry, Chemtura is planning to ensure its commitment toward satisfying contracts and demands from both its long-term and short-term customers.

In fourth-quarter 2014, Chemtura recorded net sales of $467 million and net earnings from continuing operations of $703 million, or $8.44 per share.

Chemtura remains focused on expanding in faster growing economies and markets to capture new product opportunities while establishing appropriate value-based pricing levels for its products. The company is emphasizing on managing costs and improving operating efficiency.

Chemtura currently carries a Zacks Rank #3 (Hold).

Better-ranked companies in the specialty chemicals sector include KMG Chemicals Inc. KMG , OM Group Inc. OMG and BioAmber Inc. BIOA . While KMG Chemicals and OM Group sport a Zacks Rank #1 (Strong Buy), BioAmber carries a Zacks Rank #2 (Buy).

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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.

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