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CHMT > SEC Filings for CHMT > Form 8-K on 12-Jun-2013All Recent SEC Filings

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Form 8-K for CHEMTURA CORP


12-Jun-2013

Other Events


Item 8.01 Other Events.

As previously disclosed, on April 30, 2013, we completed the sale of our antioxidant and UV stabilizers business (the "Antioxidant business") to SK Blue Holdings, Ltd. and Addivant USA Holdings Corp. We will account for the sale of the Antioxidant business in our second quarter of 2013 financial statements, and we anticipate recording within discontinued operations, a loss on sale which on a pre-tax basis, includes a non-cash loss of approximately $118 million related to the release of unrecognized pension costs from accumulated other comprehensive loss related to the transfer of pension obligations. In addition, within the loss on sale, we anticipate recognizing the net effect of the post closing working capital adjustment, transaction fees, anticipated future losses on long term supply agreements between Chemtura and Addivant and an approximately $5 million pre-tax, non-cash release of cumulative foreign currency translation adjustments from accumulated other comprehensive loss.

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