OMNOVA to Buy Hollow Sphere Plastic Pigment Product Line from Dow
Fairlawn, OH and Midland, MI .- OMNOVA Solutions Inc. and The Dow Chemical Company (NYSE: Dow) have signed an agreement for the sale of Dow’s hollow sphere plastic pigment product line to OMNOVA.
The transaction is necessary to meet U.S. Federal Trade Commission (FTC) required divestitures related to Dow’s acquisition of Rohm and Haas Company. The agreement comes ahead of the November 27 FTC deadline.
The selection of OMNOVA as the buyer must be approved by the FTC, and the acquisition is subject to normal closing conditions. The transaction is expected to close in the 4th quarter of 2009. Terms of the transaction are not being disclosed.
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