ERJ staff report (DS)
Research Triangle Park, North Carolina -- Dow Reichhold Specialty Latex has announced its intention to cease all business activities and the sale of some assets and the permanent closure of all facilities before the end of 2008. The company was formed in January 2002 as a 50/50 joint venture between The Dow Chemical Company and Reichhold, Inc.,
The Dow Chemical Company intends to buy back those business assets originally contributed by Dow at the time of constitution of the joint venture, and will service the respective customers directly in the future. The sale is expected to close within 30 days. Dow Reichhold is also pursuing the sale of business assets originally contributed by Reichhold to the joint venture.
Dow Reichhold will close its headquarters in Research Triangle Park, North Carolina; a manufacturing facility in Cheswold, Delaware; the company's Asia/Pacific offices in Penang, Malaysia; and a laboratory and office in Shanghai, China. The company has previously announced that its manufacturing operation in Chickamauga, Georgia will close.
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Home page of Dow Reichhold Specialty Latex