Source: Chemtura Corporation

Chemtura Corporation has successfully completed its financial restructuring and emerged from protection under Chapter 11 of the United States Bankruptcy Code. The company also announced that Chemtura Canada Co./Cie has concluded its Companies' Creditors Arrangement Act proceedings and has emerged from Chapter 11 at the same time as the company's U.S. operations.

"Today marks a new beginning for our company, and our employees, customers and suppliers," said Craig Rogerson, Chemtura's chairman, president and chief executive officer. "With the successful completion of our financial restructuring, we have significantly reduced our debt, improved our cost structure and resolved a considerable amount of environmental and other liabilities."

Original news release