OMNOVA Solutions Completes Acquisition of Dow Chemical's Hollow Sphere Plastic Pigment Product Line And Dissolves RohmNova Joint Venture
FAIRLAWN, Ohio, May 17 /PRNewswire-FirstCall/ -- OMNOVA Solutions Inc. (NYSE: OMN) today announced that it has completed the acquisition of The Dow Chemical Company's hollow sphere plastic pigment (HPP) product line and terminated the RohmNova paper coatings joint venture. The transaction closed late Friday night, May 14.
OMNOVA announced on Thursday, May 13, 2010, that the Federal Trade Commission had approved the sale of Dow's HPP business to OMNOVA. In the same announcement, OMNOVA said the companies would also terminate the RohmNova joint venture upon close. A description of the transaction is included in a press release and related 8K filing dated May 13, 2010.
OMNOVA Solutions Inc. is a technology-based company with last twelve month sales for the period ending February 28, 2010, of $720 million and a workforce of approximately 2,300 employees worldwide. OMNOVA, which has served the styrene butadiene latex industry since the 1950s, is an innovator of emulsion polymers, specialty chemicals, and decorative and functional surfaces for a variety of commercial, industrial and residential end-uses. Visit OMNOVA Solutions on the internet at www.omnova.com.
SOURCE OMNOVA Solutions Inc.
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