ROHM AND HAAS TO ACQUIRE UNOCAL'S POLYMERS BUSINESS
ROHM AND HAAS TO ACQUIRE UNOCAL'S POLYMERS BUSINESS PHILADELPHIA, Pa., Nov. 18 /PRNewswire/ -- Rohm and Haas Company
(NYSE: ROH) announced today it has reached an agreement in principle with Unocal Corporation (NYSE: UCL) to acquire Unocal's polymers business.
Terms of the transaction were not disclosed. Closing is conditional upon obtaining the approval of the appropriate government authorities. The Unocal business includes six U.S. plants and a technical center in Charlotte, N.C. Unocal's vinyl, styrene-butadiene and acrylic polymers are sold to companies that make paint, paper, textiles, adhesives and carpet. "The Unocal business will complement nicely our own strengths in the polymer business," said Frank Robertson, business director for Polymers and Resins, North America. "It will enable us to provide a broader product line and even better service to customers. Rohm and Haas looks forward to a smooth integration of the Unocal business into our operations." Both companies anticipate the transaction will be completed before the end of the year. /delval/ /CONTACT: Laura L. Hadden of Rohm and Haas, 215-592-3054/ -0- 11/18/91 (ROH UCL) CO: Rohm and Haas Company; Unocal Corporation ST: Pennsylvania IN: CHM SU: TNM SF -- PH009 -- 1262 11/18/91 09:12 EST
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|Date:||Nov 18, 1991|
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