UPDATE 1-Tetra sees no big impact from Chemtura's Ch. 11 filing

March 19 (Reuters) - Tetra Technologies Inc (TTI.N), an oil services company that also has producing properties, said it does not expect a "material impact" from the Chapter 11 filing of specialty chemical maker Chemtura Corp CEM.N, with which it had signed contracts in 2006.

Tetra said the agreements were mutually symbiotic and that the chemical maker had an incentive to continue with them.

The U.S. operations of Chemtura, a Connecticut-based company, filed for Chapter 11 bankruptcy protection on Wednesday, citing a significant decrease in liquidity and cash flow due to sharp declines in orders. [ID:nN18386884]

"If necessary, Tetra potentially can turn to another bromine producer that has a plant in close proximity to our El Dorado facility, as a way to mitigate the impact of any adverse action by Chemtura," Tetra said in a statement.

Tetra also said the start-up of its new facility in El Dorado, Arkansas was slightly ahead of schedule, with initial operations expected to commence in the third quarter of 2009, while commercial operations could begin in the fourth quarter.

Shares of the Woodlands, Texas-based company were trading up 15 percent at $3.99 in morning trade Thursday on the New York Stock Exchange.

(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Jarshad Kakkrakandy)