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Dow completes $150 mn sale of flexible packaging laminating adhesives business
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Monday, 09 December, 2024, 08 : 00 AM [IST]
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Michigan, USA
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Dow announced the completion of its previously announced sale of the company's flexible packaging laminating adhesives business, within its Packaging & Specialty Plastics segment, for $150 million to Arkema, a specialty materials leader.
The sale, announced May 2, 2024, includes five manufacturing sites in Italy, United States, and Mexico. The business includes Solvent-Based and Solventless Laminating Adhesives and Heat Seal Coating product portfolios.
Proceeds from the transaction will support its capital allocation priorities, including accelerating growth strategies and delivering long-term shareholder value. The completion of this sale, along with the acquisition earlier this year of Circulus, a mechanical recycler, exemplifies its commitment to aligning the company's portfolio with its growth strategy and circularity platforms.
Karen S. Carter, president of Packaging & Specialty Plastics at Dow, said, "We are pleased to announce the successful completion of this divestiture, a strategic move that aligns with Dow's long-term vision. This transaction not only strengthens our core business but also positions us for future growth and innovation. By focusing on our key strengths, we can enhance our ability to deliver value to our customers and stakeholders."
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