Dow completes $150MM sale of flexible packaging laminating adhesives business
- Transaction enables the Company to further focus on core, high-value downstream markets
- Proceeds will be used to support Dow's capital allocation priorities, including value-creating growth investments
MIDLAND, Mich., Dec. 2, 2024 /PRNewswire/ -- Dow (NYSE:DOW) announced today the completion of its previously announced sale of the Company's flexible packaging laminating adhesives business, within Dow's Packaging & Specialty Plastics segment, for $150 million to Arkema, a specialty materials leader.
The sale, announced May 2, 2024, includes five manufacturing sites in Italy, the United States, and Mexico. The business includes Solvent-Based and Solventless Laminating Adhesives and Heat Seal Coating product portfolios.
Proceeds from the transaction will support Dow's capital allocation priorities, including accelerating our growth strategies and delivering long-term shareholder value. The completion of this sale, along with the acquisition earlier this year of Circulus, a mechanical recycler, exemplifies Dow's commitment to aligning the Company's portfolio with its growth strategy and circularity platforms.
"We are pleased to announce the successful completion of this divestiture, a strategic move that aligns with Dow's long-term vision. This transaction not only strengthens our core business but also positions us for future growth and innovation," said Karen S. Carter, president of Packaging & Specialty Plastics at Dow. "By focusing on our key strengths, we can enhance our ability to deliver value to our customers and stakeholders."
Dow retains its water-based laminating adhesives, acrylic adhesives, and adhesive solutions businesses, which remain core to its growth and sustainability strategies.
About Dow
Dow (NYSE:DOW) is one of the world's leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Our global breadth, asset integration and scale, focused innovation, leading business positions and commitment to sustainability enable us to achieve profitable growth and help deliver a sustainable future. We operate manufacturing sites in 31 countries and employ approximately 35,900 people. Dow delivered sales of approximately $45 billion in 2023. References to Dow or the Company mean Dow Inc. and its subsidiaries. Learn more about us and our ambition to be the most innovative, customer-centric, inclusive and sustainable materials science company in the world by visiting www.dow.com.
For further information, please contact:
Sarah Young
Dow
[email protected]
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SOURCE The Dow Chemical Company