Dow acquires Texas aniline plant from Chemours
3/2/2016 12:00:00 AM
As part of the transaction, Chemours will continue to supply Dow with additional aniline from its Pascagoula, Mississippi facility.
The sale was for approximately $140 million in cash, according to the initial agreement, which was announced in November 2015.
"We have moved rapidly since Chemours was created [last] July to capture substantial cost reductions and streamline our portfolio," said Mark Vergnano, Chemours president and CEO. "We will continue to take actions to deliver on every aspect of our five-point transformation plan, and to enable greater focus on our businesses that have the strongest advantages and greatest market opportunities."
"Dow owning the Beaumont aniline facility is a natural fit, since Dow has been our largest aniline customer for many years," he added. "Our aniline facility employees have been a valued part of our company, and we wish them well in this next chapter of their working lives."
Comments