TETRA Technologies (TTI) Announces Long Term Agreements with Chemtura (CEM)
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TETRA Technologies (NYSE: TTI) announced that it has entered into a number of long term agreements with Chemtura Corporation (NYSE: CEM) and its affiliates.
Among other things, these agreements incorporate the following terms:
TETRA will make an investment in Chemtura's bromine operations and will acquire its bromine requirements from Chemtura's Arkansas bromine facilities.
Chemtura will supply TETRA with tail brine from its Arkansas facilities following bromine extraction.
Chemtura has the right to purchase sodium chloride and magnesium hydroxide from the new plant at market advantaged prices.
The term of the agreements spans more than two decades.
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