Chemtura Corp. (CHMT) announced that it has acquired UP Chemical Co., Ltd.'s 50 percent stake in DayStar Materials LLC, a South Korean manufacturer and marketer of high-purity metal organic precursors for the rapidly growing LED market.
Chemtura now owns a 100 percent interest in DayStar, which will be a part of Chemtura's Organometallic Specialties or OMS business. DayStar was formed in 2011 as a joint venture of Chemtura and UP Chem.
Chemtura said it intends to establish fully integrated manufacturing, quality, service and distribution capabilities in Asia supporting the full, electronic-grade trialkyl product portfolio of trimethylgallium, triethylgallium, trimethylaluminum and trimethylindium.
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