Dow Sells Off More Businesses

Following plans to sell its Angus Chemical nitroalkanes business to Golden Gate Capital for $1.2 billion, Dow Chemical has signed agreements to sell its sodium borohydride business to Vertellus Specialties and its polyolefin films plant in Findlay, Ohio, to ValGroup Packaging Solutions. Dow says the proceeds from the sales will total about $225 million. Dow manufactures sodium borohydride in Elma, Wash. Vertellus calls the Dow business the leading manufacturer of the chemical, which is used as a reducing agent in the synthesis of fine chemicals and in bleaching applications. The Findlay polyolefin films plant was slated for closure by Dow. ValGroup intends to reopen it in February 2015.