Dow Chemical today announced it would sell its polyolefin films plant in Findlay, Ohio, to Valfilm North America. The sale is part of Dow’s ongoing divestiture program, which is set to raise approximately $7 billion to $8.5 billion by the middle of 2016. Dow recently decided to shut the Findlay plant down in January, but new owner Valfilm intends to restart it in February.
Dow is also selling its sodium borohydride business to Vertellus Specialty Materials — a deal that will include Dow’s sodium borohydride manufacturing plant in Elma, Wash.
Proceeds from the two transactions will total approximately $225 million. Both are expected to close in the first quarter of 2015.
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