OMNOVA to Buy Hollow Sphere Plastic Pigment Product Line from Dow
Fairlawn, OH and Midland, MI - September 10, 2009
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.
About Dow
About OMNOVA
OMNOVA Solutions Inc. is a technology-based company with 2008 sales of $869 million and a current workforce of 2,415 employees worldwide. OMNOVA is an innovator of emulsion polymers, specialty chemicals, and decorative and functional surfaces for a variety of commercial, industrial and residential end uses. Visit OMNOVA Solutions on the internet at www.omnova.com.
Note: The forward-looking statements contained in this document involve risks and uncertainties that may affect the Company's operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the Company's expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
For Editorial Information:
Bob Plishka
The Dow Chemical Company
+1 989 638 2288
Sandi Noah
OMNOVA Solutions Inc.
+1 330 869 4292