Necessary approval has been received for the sale by Dow Corning of its Bisco Products silicone foam business to Rogers.Necessary approval has been received for the sale by Dow Corning Dow Corning is a multinational corporation headquartered in Midland, Michigan, USA. Dow Corning specializes in silicon and silicone-based technology, offering more than 7,000 products and services. Dow Corning is equally owned by The Dow Chemical Company and Corning, Inc. of its Bisco Products silicone silicone, polymer in which atoms of silicon and oxygen alternate in a chain; various organic radicals, such as the methyl group, CH3, are bound to the silicon atoms. foam business to Rogers. Under the terms of the agreement, Rogers is expected to pay a total of approximately $12 million for the Bisco Products business. This includes a $1.5 million note payable in six months and bearing 8% annual interest, and the balance in cash. To ensure a continuous post-sale supply of raw materials to Rogers, materials that Dow Corning currently supplies to Bisco Products, the two companies have entered into a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. materials supply agreement. In addition, Rogers and Dow Corning have agreed to a joint development agreement whereby the companies will work together to develop silicone foam resins resins, n.pl complex, insoluble, sticky substances secreted by plants. Used as astringents, antimicrobials, and antiinflammatories, and are burned as incense. Can cause oral ulcers and epidermal irritations. over a seven year period. |
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