Dow to Sell Flexible Packaging Laminating Adhesives Business to Arkema

Dow Jones05-02

By Colin Kellaher

Dow has agreed to sell its flexible packaging laminating adhesives business to French specialty materials company Arkema in a deal valued at about $150 million.

Dow on Thursday said the sale helps the Midland, Mich., chemicals company increase its focus on core, high-value downstream businesses, adding that it will use proceeds from the transaction to support its capital-allocation priorities.

Dow said five manufacturing sites in Italy, the U.S. and Mexico will transfer to Arkema, which said it expects the deal will trigger around $50 million of implementation costs or capital spending over the next three years.

Arkema said the acquired business, which generates annual sales of around $250 million, will significantly expand its portfolio of solutions for flexible packaging.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

May 02, 2024 08:37 ET (12:37 GMT)

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