Manufacturing Industry
Rohm and Haas to sell its automotive coatings business to Nippon.(Nippon Paint Company Ltd.)(Brief article)
China Chemical Reporter, August, 2006
Rohm and Haas Company (NYSE:ROH) said on August 7th, 2006 that it has reached an agreement to sell its global Automotive Coatings business to Nippon Paint Co., Ltd. (NPC). Terms of the sale include approximately US$230 million in cash subject to adjustments at closing. The company does not expect a significant gain or loss from this transaction, however, the final determination depends on closing adjustments. The transaction will be finalized upon receipt of all necessary government and regulatory approvals, which are expected by early October 2006.
The sale involves the company's North American Automotive Coatings business (United States, Canada and Mexico) including the company's facilities based in Lansing, Illinois as well as its interests in two joint...
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