Dow Corning to buy Japanese silicones maker

By Patrick Raleigh ERJ On-line news editor

Midland, Michigan-Dow Corning Toray Silicone Co. Ltd (DCTS)-a joint venture between Dow Corning Corp. and Toray Industries Inc.-is to acquire the silicone division of Nippon Unicar Co. Ltd (NUC). The deal is due for completion by 30 Sept, Dow Corning has announced.

The deal will enable DCTS to add NUC's advanced technology and speciality chemicals know-how to its own silicone production capabilities, said a Dow Corning statement. The JV, it added, will continue to supply a product range similar to NUC previous offerings.

NUC is jointly owned by Union Carbide Corp. and Kawasaki Polyolefin Holdings YK.