Dow Finalizes Purchase of Celotex Corporation's Rigid Foam Insulation Business
MIDLAND, Mich. – August 27, 2001 — The Dow Chemical Company announced today it has finalized the purchase of the assets of the Celotex Corporation's rigid foam insulation business. The purchase includes all former Celotex brand polyisocyanurate insulation products for residential and commercial markets, as well as other accessory products. The new business will be integrated into Dow's North American Building Materials business. Terms of the agreement were not disclosed.
Former Celotex product brands — Tuff-R, Super Tuff-R, Sturdy-R and Thermax Insulating Sheathing; HY-Therm Nail Line Roof Insulation; Celo-Vent Insulated Shingle Deck; and Tuff-Wrap Air Infiltration Barrier — are included in the purchase. The Celotex name will remain with the Celotex Corporation.
The purchase also includes five manufacturing facilities located in Charleston, IL; Elizabethtown, KY; Pennsauken, NJ; Texarkana, AR; and Tracy, CA.
"Adding a full line of high performance, polyisocyanurate foam insulation products to our existing line of STYROFOAM* brand insulation extruded polystyrene products allows us to offer homebuilders, architects, specifiers, building owners and consumers a more robust product offering to meet diverse residential and commercial building needs," said John Somerville, Commercial Director, North America Building Materials, Fabricated Products, The Dow Chemical Company.
"These foam insulation products have many years of proven performance, which is an excellent complement to the more than 54 years of success we've enjoyed with STYROFOAM brand insulation," Somerville added. "Additionally, we have vastly expanded our foam insulation technology with this transaction. We are eager to explore new product applications and enhancements to existing products to deliver even greater value to our customers."
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
