June 2010 Additives for Polymers9

The Polymer Solutions segment (formerly Polymer Additives) delivered net sales for 1Q 2010 of $216.7 mil-lion, a 76% increase versus $123.2 million in 1Q 2009 due primarily to improved volumes in the fire safety, stabilizers and curatives businesses. Segment income for 1Q 2010 was a record $41.8 million compared to a loss of $11.7 million for the same quarter in 2009. This sig-nificant improvement is primarily the result of increased volume demand across the portfolio, particularly in bro-minated flame retardants, as well as higher production utilization rates, the company says.

In other news, Albemarle has elected Luke Kissam president of the company. In this role he will oversee all aspects of the company’s global business and operational activities. An industry veteran with more than 20 years’ experience, Kissam joined Albemarle as VP, general counsel and secretary in 2003. Since then, he has held several roles of increasing responsibility, serving most recently as VP, manufacturing and law, and corporate secretary. He was named executive VP in May 2009.

Contact:Albemarle Corp, Baton Rouge, LA, USA. Tel: +1 225 388 7402,

Web: www.albemarle.com

Chemtura reports 2009 fourth quarter results

For the fourth quarter of 2009, additives major Chemtura Corp recorded a net loss on

a GAAP basis of US$89 million. This represents a substantial improvement from the net loss of $690 million reported for 4Q 2008. Net sales declined by 5% from $690 million in 4Q 2008 to $656 million a year later.

The decrease in net sales was attributable to reduced sales volumes, primarily due to the impact of the global economic recession, and a reduction in selling prices, par-tially offset by favourable foreign currency translation. For the year as a whole, sales declined some 18% from $3.546 billion in 2008 to $2.541 billion last year.

Gross profit for 4Q 2009 was $175 million, an increase of $64 million compared with the same quarter of 2008. The increase was primarily due to a $72 million decrease in raw material and energy costs, aided by favourable manufactur-ing costs and foreign currency impacts but partially offset by reduced selling prices, lower volume, unfavourable product

mix and increased distribution costs. SG&A expanses fell $6 million to $73 million in 4Q 2009 while R&D spend remained level at $11 million. The operating loss of $30 million in 4Q 2009 compares favourably with the figure of $726 million for the same period in 2008. This was primarily attributable to a decrease in the impairment of long-lived assets and the increase in gross profit. The improved 4Q net loss noted above primarily reflects the increase in operating profit. For the full year, Chemtura posted a net loss of $292 million compared to a net loss of $973 million in 2008.

Net sales for the Industrial Performance Products seg-ment (including antioxidants and UV stabilizers) declined 7% to $279 million in 4Q 2009 compared with the same period in 2008, driven primarily by reduced sales volume and selling prices. Operating profit increased $26 million to $36 million. For the year, the segment’s sales fell to $999 million from $1.465 billion in 2008, and operating profit declined by $14 million to $91 million.

For the Industrial Engineered Products segment, which includes flame retardants and PVC additives (the latter since sold to Artek [ADPO, April 2010]), net sales declined 3% to $202 million in 4Q 2009, primarily as a result of reduced prices. The recovery in demand from electronics applica-tions experienced in 3Q 2009 continued in the fourth quar-ter, Chemtura reports. However, demand from building and construction and consumer durable polymer applications that experienced the most significant declines in demand at the onset of the recession in 4Q 2008 continued to show modest recovery reflecting the condition of the broader economy. Quarterly operating profit increased $37 million to $11 million in 2009. For the full year, sales were down substantially from $1.17 billion in 2008 to $753 million. The segment posted an annual operating loss of $11 million compared to a profit of $17 million in 2008.

Contact:Chemtura Corp, Middlebury, CT, USA. Tel: +1 203 573 2000,

Web: www.chemtura.com

Sales and earnings continue to improve for Cytec in 1Q 2010

Speciality chemicals manufacturer Cytec Industries Inc reported net earnings for the

first quarter of 2010 of US$24.8 million on net sales of $787 million. Included in the quarter are several special items that total $7.9 million

FINANCIALS