Rohm and Haas Company Sells its Automotive Coatings Business to Nippon Paint
Monday October 2, 4:59 pm ET
PHILADELPHIA, Oct. 2 /PRNewswire-FirstCall/ -- Rohm and Haas Company said today that it finalized the sale of its Automotive Coatings business to Nippon Paint Co., Ltd. (NPC). The business was sold for $230 million, plus a working capital adjustment.
The sale involved the company's North American Automotive Coatings business (United States, Canada and Mexico) including the company's facilities based in Lansing, Illinois as well as its interests in two joint ventures with NPC.
"We are confident the new NB Coatings business will continue to provide exceptional products and services to the automotive coatings customers we served for many years and to the industry as a whole,' said Alan Barton, Business Group Executive for Rohm and Haas Coatings.
Philadelphia-based Rohm and Haas announced the sale of the business in August of this year.
About Rohm and Haas Company
Rohm and Haas is a global leader in the creation and development of innovative technologies and solutions for the specialty materials industry. The company's technologies are found in a wide range of markets including: Building and Construction, Electronics, Industrial Process, Packaging and Paper, Transportation, Household and Personal Care, Water, Food and Retail and Pharma and Medical.
Source: Rohm and Haas Company
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