Dow buys remaining 50% of Swiss auto adhesives firm

10 January 2001 22:58  [Source: ICIS news]

HOUSTON (CNI)--Dow Chemical's automotive business unit has completed its acquisition of the remaining 50% interest in Swiss automotive adhesives firm, Gurit-Essex, Dow said Wednesday.

Dow acquired its initial 50% share of Freienbach, Switzerland-based Gurit-Essex through the 1988 acquisition of Essex Chemical.

Dow Automotive president Larry Denton said: "We're pleased to now be able to offer our global customers the combined resources, products and personnel of the new organisation" that combines Gurit-Essex with Dow Automotive's global materials, parts and systems lines for auto interiors, exterior coatings and body applications.

Gurit-Essex is Europe's largest supplier of automotive adhesives, sealants and engineered body systems for car makers and the automotive after-market.

Financial terms of the acquisition were not disclosed.

Midland, Michigan-based Dow said the acquisition doubles the company's adhesives, sealants and body engineered systems businesses. The deal also allows Dow Automotive to offer its product lines and technologies on a global scale, Dow said.

By: Joe Kamalick
+1 713 525 2653

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