MOSCOW (MRC) -- The Dow Chemical Company announced the completed sale of ANGUS Chemical Company to Golden Gate Capital. The company finalized the divestiture of its Sodium Borohydride business to Vertellus Performance Chemicals LLC and certain of its affiliates.
Together, these previously committed divestitures total more than USD1.4 billion in gross proceeds to Dow and illustrate the company's drive to maximize value across its integrated portfolio - pointing resources toward more strategic uses. Since 2013, the company has signed or completed transactions that are expected to generate USD2.9 billion in proceeds.
The company said that the sale of ANGUS Chemical Company includes the business headquarters and R&D facility in Buffalo grove, IL; manufacturing facilities located in Sterlington, LA and Ibbenbueren, Germany; a packaging facility in Niagara Falls, NY; as well as the associated business, working capital, customer contracts, process technology, business know-how and certain intellectual property.
The divestiture of Sodium Borohydride includes a manufacturing facility located in , the associated business, inventory, customer contracts and lists, process technology, business know-how and certain intellectual property.
The Dow Chemical Company is an American multinational chemical corporation headquartered in Midland, Michigan, United States. Dow is a large producer of plastics, including polystyrene (PS), polyurethane, polyethylene (PE), polypropylene (PP), and synthetic rubber. EBITDA was up 15% in 4Q at USD2.4 bn. Net profits were down 24% at USD734. Dow's sales in 4Q were unchanged on a year earlier at USD14.38 bn. MRC