Dow May Divest Clear Lake Ops, North American UCAR Business
Wednesday, September 10, 2008
The Dow Chemical Co. announced Wednesday that it is exploring divestiture options for its Clear Lake Operations acrylic acid and esters, and UCAR Emulsion Systems specialty latex business in North America. Dow has engaged J.P. Morgan to act as financial adviser in support of this effort.
The exploration of strategic options for the business is driven by Dow's interest in proactively mitigating potential anti-trust issues associated with its previously announced acquisition of Rohm and Haas.
The business includes an acrylic acid and esters production plant located in Texas (Clear Lake), and UCAR Emulsion System specialty latex product plants located in Louisiana (St. Charles), Illinois (Alsip), California (Torrance) and a commercial and technical center in North Carolina (Cary). As divestiture options are considered, the business will continue to be sharply focused on effectively managing operations, competing in the market, delivering exceptional value to customers, and the safety of Dow employees.
Source: Dow Chemical Co.
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