Dow Chemical is to sell its Styron unit to Bain Capital, two sources familiar with the matter said on Tuesday. Dow, the No. 1 U.S. chemicals company, put Styron up for sale in July and said at the time the unit could fetch $1 billion to $2 billion. It hopes to sell the unit, which makes polystyrene, rubber and latex, by the first quarter of 2010.
The deal is to be worth more than $1.5 billion, one of the sources said.
The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.
Jens Birgersson becomes new Brenntag CEO
Honeywell will acquire Johnson Matthey's Catalyst Technologies business segment for €2.15 billion in an all-cash transaction.
Valerie Diele-Braun resigned from her position as CEO and member of the Executive Board of IMCD at the end of April for personal reasons.
Carbon black manufacturer Orion Engineered Carbons plans to rationalize production lines in North and South America and EMEA.
