US Monument Chemicals completes deal for Dow plant in Belgium

02 June 2010 15:48  [Source: ICIS news]

TORONTO (ICIS news)--US specialty chemicals holding company Monument Chemicals has completed the acquisition of a plant and business assets of Dow Haltermann Custom Processing in Antwerp, Belgium, it said on Wednesday.

Effective immediately, Monument would serve the European specialty chemicals sector under the newly named company, CHL Chemical.

A US-based Haltermann business that Monument acquired in 2008 from Dow Chemical would continue to operate as Johann Haltermann, Ltd., it added.

With the acquisiton in Belgium, Monument was reuniting its Houston-based Haltermann specialty chemicals operation with the manufacturing business in Antwerp, marking an important move in its strategy for global expansion in the specialty chemicals market, it said.

Market sources told ICIS news last year that the US Halterman business Monument acquired from Dow Chemical had started to compete against Dow in the market for butyl acetate (butac) and other chemicals.

Indianapolis, Indiana-based Monument is a privately held joint venture holding founded in 2008.

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By: Stefan Baumgarten
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