Chemtura Corp. (NYSE: CHMT) has purchased a 50 percent stake in DayStar Materials LLC, a South Korean company that makes chemicals for light emitting diode (LED) products.

South Korean chemical company Up Chemical Co. Ltd. sold the DayStar stake, giving Chemtura complete ownership of the company. Philadelphia-based Chemtura and Up Chemical formed DayStar as a joint venture in 2011. Terms of the deal were not disclosed.

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