25 September 2007 15:36 [Source: ICIS news]
Financial terms were not disclosed. Dow said the sale should close in the fourth quarter.
Under the terms of the agreement, Sealed Air would acquire a license to process technology, customer contracts, trademarks and certain production and process equipment, Dow said.
Dow would supply products to Sealed Air for up to 18 months following the close of the transaction, the company said. The products would be made at its plants in Hanging Rock, Ohio, and Drusenheim, France.
Afterwards, Dow intends to start producing Styrofoam at the French plant, the company said.
Dow said it will shut down the Ethafoam line at the plant in Ohio.
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