Crompton Corp. and Great Lakes Chemical Corp. finalized their $2 billion merger Friday. The new company, named Chemtura Corp., is the fourth-largest publicly traded specialty chemical company in the United States and one of the largest suppliers of chemicals used by the international lubricants industry. Chief Executive Officer Robert Wood rang the opening bell yesterday at the New York Stock Exchange, where the renamed company began trading underabbreviation CEM.
Taking up Cromptons headquarters in Middlebury, Conn., Chemtura consists of companies that had combined revenues of $3.7 billion in 2004. Among the materials it sells into the lubricants market are high-viscosity polyalphaolefins, greases, antioxidants, antiwear agents, sulfonates, flame retardants, extreme pressure additives, lubricity additives, pour-point depressants and viscosity modifiers.