Chemtura slips in fourth quarter
Chemtura’s crop protection sales slipped by 2.3% to $86 million in the fourth quarter of 2009. The decline was due to lower prices, the company says. Its fourth-quarter sales rely heavily on demand in the southern hemisphere. Growers there delayed purchasing until later in the season than in the previous year, but sales were “robust” in the latter part of the quarter, Chemtura notes. Operating profit was down 40% to $9 million due to lower prices and higher manufacturing costs.