Dow completes acquisition of Rohm&Haas

On April 1 the Dow Chemical Company announced the completion of its acquisition of Rohm and Haas. The acquisition is a major step in Dow's strategy of growing its performance products and specialty portfolio to deliver more consistent earnings growth.

Combining the two organizations' best-in-class technologies, broad geographic reach and strong market channels will create a $14 billion diversified business portfolio, which will be called Dow's Advanced Materials division. The division is intended to achieve $3 billion in additional value growth opportunities, as well as annual cost synergies of $1.3 billion.

"The closing of this transaction strongly positions Dow for the future by transforming our business portfolio," said Dow Chairman and CEO, Andrew N. Liveris. "We are committed to delivering on a clear and measurable plan designed to meet the needs of our investors, employees, customers and suppliers, even in this current challenging macroeconomic environment. Our first critical task is to ensure a seamless integration of Rohm and Haas that maximizes the synergies and opportunities offered by this transaction."

Rohm and Haas is the key element in Dow's new Advanced Materials division, which will be managed by Pierre Brondeau, the division's president and CEO. Advanced Materials includes: Coatings, Building and Construction, Specialty Materials, Adhesives and Functional Polymers, and Electronic Materials.

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