Dow Eyes Sale Of Acrylics And Latexes

Dow Chemical is exploring the divestiture of its acrylic acid and esters operation in Clear Lake, Texas, and its UCAR Emulsion Systems specialty latex business in North America. The company has engaged JPMorgan to act as financial adviser in support of the effort.

The company says the move is "driven by Dow's interest in proactively mitigating potential antitrust issues" associated with its planned acquisition of Rohm and Haas. Dow announced the $19 billion purchase of the specialty chemical company in July.

Dow announced the possible sale on Sept. 10, five days after revealing that it had received a second request for information from the U.S. Federal Trade Commission regarding the Rohm and Haas acquisition. Rohm and Haas is the largest U.S. producer of acrylic acid and is also a major producer of latexes for paint and other applications.

According to Dow, the businesses that might be sold include the Clear Lake plant and specialty latex plants in St. Charles, La.; Alsip, Ill.; and Torrance, Calif. The list also includes a commercial and technical center in Cary, N.C.