Dow announces divestiture of its Acetone Derivatives business
Dow (NYSE: DOW) announced today that it has reached an agreement
for the divestiture of its Acetone Derivatives business to ALTIVIA
Ketones & Additives, LLC, an affiliate of ALTIVIA, a privately
held producer of chemicals headquartered in Houston, Texas.
“This divestiture illustrates Dow’s disciplined approach to
portfolio management with a best owner mindset,” said Jim
Fitterling, chief executive officer of Dow. “It is beneficial to
both parties and, in the case of Dow, is directly aligned with our
more focused portfolio and goal of driving a higher return on
The divestiture includes production assets located in Institute,
West Virginia, in addition to the site infrastructure, land and
utilities. Dow will remain a tenant on the Institute site,
retaining ownership of certain manufacturing assets.
The transaction enables the acetone derivatives business to
continue reliably and safely serving its customers. Additionally,
it allows the Institute site to continue providing site
infrastructure services to partners at the site. Both companies are
working together on a seamless transition plan for all
stakeholders. The transaction is expected to close by the end of
2019, subject to customary closing conditions.
Acetone derivatives are widely used as solvents and as chemical
intermediates. They are used in the coatings industry as solvents
for nitrocellulose and other cellulose ethers and for vinyl
chloride-vinyl acetate and other resins. They are also used in the
manufacture of pharmaceuticals, plastics, fibers and films.
Dow (NYSE: DOW) combines one of the broadest technology sets in
the industry with asset integration, focused innovation and global
scale to achieve profitable growth and become the most innovative,
customer centric, inclusive and sustainable materials science
company. Dow’s portfolio of performance materials, industrial
intermediates and plastics businesses delivers a broad range of
differentiated science-based products and solutions for our
customers in high-growth segments, such as packaging,
infrastructure and consumer care. Dow operates 113 manufacturing
sites in 31 countries and employs approximately 37,000 people. Dow
delivered pro forma sales of approximately $50 billion in 2018.
References to Dow or the Company mean Dow Inc. and its
subsidiaries. For more information, please visit www.dow.com or
follow @DowNewsroom on Twitter.
version on businesswire.com: https://www.businesswire.com/news/home/20190813005678/en/
Guillaume Artois +1 989 633 4573 email@example.com
Historical Stock Chart
From Jul 2020 to Aug 2020
Historical Stock Chart
From Aug 2019 to Aug 2020