Chemtura AgroSolutions sales up 15% in Q1 2011

Date:05-06-2011

Chemtura AgroSolutions' net sales increased $10 million or 15% primarily to $75 million due to increased sales volume. Net sales were higher in both the European and North American regions (the company’s two largest regions) as compared with the first quarter of 2010. Asia-Pacific sales were modestly lower as Chemtura implemented distribution changes which also impacted margins. Operating profit of $2 million compared with an operating loss of $1 million in 2010. The $3 million increase was due to higher sales volume and lower SGA&R and raw material costs, partially offset by increased manufacturing and distribution costs.

"The formation of the ISEM joint venture in January will provide us access to two commercialized products and accelerate the development and commercialization of new active ingredients and molecules to build our product pipeline for our Chemtura AgroSolutions segment.” noted Mr. Craig A. Rogerson, Chairman, President and CEO.

Chemtura AgroSolutions’ results in Q1 2011 ($ million)
Q1 2011 (ended March 31 )	2011	2010	Change %
Net sale	75	65	15.4%
Operating profit	2	1	100%