Purchasing additives
6 Nov 2002
Rohm and Haas and the Kureha Chemical Industry Company of Japan have signed a definitive agreement for Kureha Chemical to sell its global plastics additives business to Rohm and Haas for $65.5 million.
Under the terms of the agreement, Rohm and Haas will acquire Kureha's commercial operations throughout the Asia-Pacific region and other areas, together with manufacturing facilities and laboratories in Singapore. The transaction will increase the revenue of Rohm and Haas's Plastics Additives business by approximately $70 million.
Under the terms of the agreement, Kureha will continue to manufacture plastics additives products from its plant in Nishiki, Japan for supply to Rohm and Haas.
'The sale of our global plastics additives business will enable Kureha to concentrate resources in less cyclical high value-added product fields. This is a key goal of Kureha's Medium-Range Corporate Plan,' said Hiroshi Amano, President and CEO of Kureha.
The transaction will close by the end of the year.
