The Dow Chemical Company has signed definitive agreements to sell its global sodium borohydride business to Vertellus Specialty Materials LLC and its polyolefin films plant in Findlay, Ohio to Valfilm North America, Inc., a wholly-owned subsidiary of VALGROUP Packaging Solutions. Both transactions are expected to close in the first quarter of 2015 pending regulatory approvals. Combined proceeds from the transactions total approximately $225 million.
Dow had previously announced its intent to divest its sodium borohydride business on Oct. 2, 2014, as part of the company’s ongoing focus to maximize value across its integrated portfolio by reducing exposure to non-strategic businesses and assets. Both transactions are part of Dow’s ongoing drive to deliver $7 billion to 8.5 billion in gross proceeds by mid-2016.
