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Chemtura Comments on Third Quarter Performance

^{Published on 2011-09-13 06:32:18 - Market Wire}
 

PHILADELPHIA--([ BUSINESS WIRE ])--Chemtura Corporation, (NYSE: CHMT)

As previously announced, Chemtura is scheduled to participate in several investor conferences during September 2011. As a result, the Company today commented on third quarter performance in anticipation of likely investor questions.

Based on actual performance in July and August and the outlook for September, Chemtura expects year-on-year improvement in sales and profitability in the third quarter of 2011. Craig A. Rogerson, Chairman, President and CEO commented: aWhile many of our customers are cautious in light of the global economic news and the volatility in the financial markets, and the tone of certain of the industries we serve is guarded, to date orders for our products are at levels tracking to our objective of year-on-year improvement in the third quarter of 2011.a

Mr. Rogerson continued, aIn this period of economic uncertainty, it is difficult to provide a clear view of the fourth quarter but we continue to closely monitor both macroeconomic developments and our customers' activity. We are prepared to make the necessary adjustments to our operating plans to meet the changes in our business environment if warranted.a

Chemtura Corporation, with 2010 sales of $2.8 billion, is a global manufacturer and marketer of specialty chemicals, agrochemicals and pool, spa and home care products. Additional information concerning us is available at [ www.chemtura.com ].

Forward-Looking Statements

This document includes forward-looking statements within the meaning of Section 27(a) of the Securities Act of 1933, as amended and Section 21(e) of the Exchange Act of 1934, as amended.These forward-looking statements are identified by terms and phrases such as aanticipate,a abelieve,a aintend,a aestimate,a aexpect,a acontinue,a ashould,a acould,a amay,a aplan,a aproject,a apredict,a awilla and similar expressions and include references to assumptions and relate to our future prospects, developments and business strategies.

Factors that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to:

• The cyclical nature of the global chemicals industry;
• Increases in the price of raw materials or energy and our ability to recover cost increases through increased selling prices for our products;
• Disruptions in the availability of raw materials or energy;
• Our ability to implement our growth strategies in rapidly growing markets;
• Our ability to obtain the requisite regulatory and other approvals to implement the plan to build a new multi-purpose manufacturing facility in Nantong, China;
• Declines in general economic conditions;
• The effects of competition;
• The ability to comply with product registration requirements of regulatory authorities, including the U.S. food and drug administration (the aFDAa) and European Union REACh legislation;
• The effect of adverse weather conditions;
• The ability to grow profitability in our Chemtura AgroSolutions segment;
• Demand for Chemtura AgroSolutions segment products being affected by governmental policies;
• Current and future litigation, governmental investigations, prosecutions and administrative claims;
• Environmental, health and safety regulation matters;
• Federal regulations aimed at increasing security at certain chemical production plants;
• Significant international operations and interests;
• Our ability to maintain adequate internal controls over financial reporting;
• Exchange rate and other currency risks;
• Our dependence upon a trained, dedicated sales force;
• Operating risks at our production facilities;
• Our ability to protect our patents or other intellectual property rights;
• Whether our patents may provide full protection against competing manufacturers;
• Our ability to remain technologically innovative and to offer improved products and services in a cost-effective manner;
• The risks to our joint venture investments resulting from lack of sole decision making authority;
• Our unfunded and underfunded defined benefit pension plans and post-retirement welfare benefit plans;
• Risks associated with possible climate change legislation, regulation and international accords;
• The ability to support the carrying value of the goodwill and long-lived assets related to our businesses; and
• Other risks and uncertainties detailed in Item 1A. Risk Factors in our filings with the Securities and Exchange Commission.

These statements are based on our estimates and assumptions and on currently available information. Our forward-looking statements include information concerning possible or assumed future results of operations, and our actual results may differ significantly from the results discussed.Forward-looking information is intended to reflect opinions as of the date this press release was issued.We undertake no duty to update any forward-looking statements to conform the statements to actual results or changes in our operations.