Arkema buys Dow Coating Company's UCAR Emulsion Systems business.

Arkema, Colombes, France, has acquired The Dow Coating Company's UCAR Emulsion Systems specialty latex businesses in North America and an acrylic acid and esters plant that is located in Clear Lake, TX. The total purchase price is $50 million.

By order of the U.S. Federal Trade Commission, Dow has been required to make certain divestitures following its acquisition of Rohm and Haas. A deadline of November 27, 2009, was set by the FTC.

The selection of Arkema as the buyer must be approved by the Federal Trade Commission, and the two companies will be reviewing the proposed transaction with FTC authorities. The deal is expected to close during the 4th quarter of the current year.

"The FTC order for our acquisition of Rohm and Haas required minimal divestitures," says Andrew N. Liveris, Dow's Chairman and CEO. "[This] transaction, which comes well head of the November 27 deadline, is the major step in fulfilling our obligations to the Commission."

"Arkema is taking another very important step in its history and its growth and development strategy. This acquisition is fully in line with our commitment to develop our best product lines and boost our downstream integration," states Thierry Le Henaff, the Arkema Croup's Chairman and CEO.