I wanted to share with this board some info that I think some here will think is useful. I sent an email to a poster on this board over a week ago about a coversation that I had with a Chemtura rep. Some might say, "why didnt you post this earlier, why today?. Fair question and I can only repsond by saying that I have been apart of boards where a poster would say, I heard this, I heard that, listen to this rumor, etc. I am sure everyone here has also been apart of something like that. Thats the last thing I wanted to do. So I emailed this poster (who shall remain nameless unless he/she decides to speak on this) who I trust and asked the person for there opinion. He/she gave me advise and therefore I am here sharing with you how my converstion went. This email is a little dated, which you will be able to pick up on because some court dates have come and gone, but it is easier for me just to copy and paste the email. Here is part of the email:
Hi xxxxxxxxxxx
Thanks for the respone. I'll let you know exactly how our little face to face went yesterday. First I told our rep that I was invested in Chemtura and then asked him if there was anything that he knew concerning Chemtura that would benefit all of us, not necessarily anything insider but just general. This is how our convo went. We talked a little about the court proceedings. I knew he was legit because even though he works for the ag side of the company he was very knowledgeable about the court proceedings, dates, delays, etc. He knew about the delay that got pushed back and that impressed me. Maybe it shouldnt have considering he is an employee but I figured that he really wouldnt care especially since operations were running normal. He wasnt familar with the Vanderberk (spelling) delay but why would he be. I then told him about he asset sale and if there was any truth to it. He said that he was told himself 6 weeks back that Chemtura was looking to sell the ag division. He said the division was small compared to the rest of the divisions but that it made up 25 percent of the income. I talked to him about that for a little because as you know its something that we all discussed on Ihub in the past. I threw out the 400 million number to him because thats what was discussed on Ihub. He kind of looked at me a little goofy and said the the ag division would be worth 700-1 billion dollars. He said even worst case if they got 500 million they can pay back loan and be free in clear. ......he was told that there were 4 companies looking at possibly buying the division. He told me it was 1 American company and 3 foreign companies. He mentioned 3 names that I know of. Syngenta, Dow and Manna. I really didnt catch the other one. Some other things we talked about were the shares. He thought there was a 50/50 shot that Chemtura made it out of bk. He also mentioned that next week was huge as far as the court proceeding goes. He talked about the "plan". I said, " is this proceeding just about telling the judge what you plan to do to get organized". He said its much more then that. It stretches to contracts with everyone they do business with to employee contracts. He made sure to say that this meeting was hugggggggge for Chemtura.
So there you have it. Keep in mind that the court proceeding he is talking about is not the one that just got pushed back, it was the court proceeding having to do with the bp decision.
No one hear knows me from the guy down the street, so believe what you want. Look at my posting history. I dont pump. I invest in a company, follow the companies ihub board and every now and then give my 2 cents. This is all legit and may or may not be anything special. I just wanted to share it with the board, thats all. Good luck to everyone.
AI
