DIC Executed the Agreements to Sell Reichhold's Formulated Adhesives Business
DIC decided to divest Reichhold's adhesives business, which has annual sales of approximately US$250 million (30 billion yen) with some 600 employees, as part of the plan to restructure its overall business from the viewpoint of "Select and Focus." Earlier this year, Reichhold formed Dow Reichhold Specialty Latex, a 50/50 joint venture with The Dow Chemical Company, and it sold its carpet/paper latex business to Dow as part of its restructuring plan. Both were key strategic moves for Reichhold's new business strategy of refocusing on its core businesses: composites and coating and performance resins.
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