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Dow Reichhold Specialty Latex to cease operations.

Dow Reichhold Specialty Latex, Research Triangle Park, NC, a 50/50 joint venture between The Dow Chemical Company and Reichhold, Inc., has announced the planned sale of certain business assets, the permanent closure of all facilities, and the intention to cease all business activities before the end of 2008.

Dow intends to buy back those business assets that it originally contributed at the time of formation of the joint venture, and will service the respective customers directly in the future. Dow Reichhold is also pursuing the sale of certain other business assets originally contributed by Reichhold to the joint venture. Dow Reichhold Specialty Latex will close its headquarters in Research Triangle Park; a manufacturing facility in Cheswold, DE; the company's Asia/Pacific offices in Penang, Malaysia; and a laboratory and office in Shanghai, China. The company had previously closed its manufacturing operation in Chickamauga, GA. Dow Reichhold Specialty Latex was formed in 2002.
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Title Annotation:Business & Industry
Publication:JCT CoatingsTech
Date:Oct 1, 2008
Words:153
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