Big changes in materials industry
It's been a busy few weeks for some chemical suppliers.
It’s been a busy few weeks for some chemical suppliers.
The Dow Chemical Company made two big moves. The company announced the sale of its Styron division to pri- vate investment firm Bain Capital for US$1.63 billion, and signed a business alliance in their polyurethane systems busi- ness with E.A. Juffali & Brothers, one of Saudi Arabia’s largest commercial enterprises. The deal with E.A. Juffali & Brothers will result in the construction of a manufacturing plant for the production of polyol blends in the city of Jed- dah, Saudi Arabia.
Also, the PVC additives business of specialty chemicals supplier Chemtura Corporation has been jointly purchased by Artek Surfin Chemicals Ltd. and Aterian Investment Partners. Mumbai, India-based Artek Surfin Chemicals is one of that country’s largest specialty chemical companies, and New York City-based Aterian Investment Partners is a private capital firm that invests in businesses across a range of sectors.
Finally, resin and compound manufacturer A. Schulman, Inc. purchased McCann Color, Inc., a North Canton, Ohio-based producer of color concentrates, for under US$10 million in cash.