Chemtura To Acquire Chemicals Manufacturer Kaufman Holdings
Chemtura Corp. and Kaufman Holdings Corp. said Thursday they have signed a letter of intent for Chemtura to acquire Kaufman in a cash transaction.
Terms of the transaction, which is expected to close in the first quarter of 2007, were not disclosed.
With manufacturing facilities in Fords and East Hanover, N.J. and Oakville, Canada, Kaufman has about 300 employees and 2006 revenues over $200 million.
There are two operating companies under Kaufman: Hatco Corp., a producer of polyol esters used for technically demanding synthetic lubricant applications, such as aviation turbine oils and lubricants for CFC-free refrigeration compressors; and Anderol, Inc., a provider of high-purity, synthetic lubricants used in aviation and industrial applications, including compressors, bearings, gears and food-grade machinery.