Dow announced that it has reached an agreement for the divestiture of its Acetone Derivatives business to ALTIVIA Ketones & Additives, LLC, an affiliate of ALTIVIA, a privately held producer of chemicals headquartered in Houston, Texas.
“This divestiture illustrates Dow’s disciplined approach to portfolio management with a best owner mindset,” said Jim Fitterling, chief executive officer of Dow. “It is beneficial to both parties and, in the case of Dow, is directly aligned with our more focused portfolio and goal of driving a higher return on invested capital.”
The divestiture includes production assets located in Institute, West Virginia, in addition to the site infrastructure, land and utilities. Dow will remain a tenant on the Institute site, retaining ownership of certain manufacturing assets.
The transaction enables the acetone derivatives business to continue reliably and safely serving its customers. Additionally, it allows the Institute site to continue providing site infrastructure services to partners at the site. Both companies are working together on a seamless transition plan for all stakeholders. The transaction is expected to close by the end of 2019, subject to customary closing conditions.
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With annual sales of $58 billion in 2008 and 46,000 employees worldwide, Dow is a diversified chemical company that combines the power of science and technology with the " Human Element ” to constantly improve what is essential to human progress. The Company delivers a broad range of produ ... more
Philadelphia is the home for Dow’s Advanced Materials Division, which is the umbrella for some of the company’s most important high-growth specialty businesses. Five businesses make up the division – Coatings, Building and Construction, Paper and Textiles, Specialty Packaging and Films, Des ... more
