Dow Chemical and Reichhold plan to form a joint venture, Dow Reichhold Specialty Latex LLC, by combining the specialty latex businesses of Dow's Emulsion Polymers unit and Reichhold.

Dow Chemical and Reichhold plan to form a joint venture, Dow Reichhold Specialty Latex LLC, by combining the specialty latex businesses of Dow's Emulsion Polymers unit and Reichhold. As part of this transaction, Dow would acquire Reichhold's carpet and paper latex businesses. Dow and Reichhold expect to finalize these transactions and seek the necessary regulatory approvals in the coming months. Terms of the transactions will not be disclosed. The joint venture will focus primarily on butadiene-based latexes, but also would have access to a broad range of latex chemistries. The joint venture is expected to employ 400 people and will have sales, marketing and research support in North America, Latin America, Europe and the Pacific. Upon completion of the transaction, the joint venture will be headquartered in Research Triangle Park, NC. The joint venture will operate two latex production facilities located in Cheswold, DE and Kensington, GA.