Dow to Buy Wolff Walsrode, Cellulosics Supplier
The Dow Chemical Company (Midland, MI) has agreed to acquire Wolff Walsrode, a manufacturer of cellulose products and a business unit of the Bayer Group (Leverkusen, Germany, www.bayer.com).
Midland, MI (Dec. 18)
-The Dow Chemical Company (
www.dow.com
) has agreed to acquire Wolff Walsrode, a manufacturer of cellulose products and a business unit of the Bayer Group (Leverkusen, Germany,
www.bayer.com
).
Wolff Walsrode, with 2005 revenues of more than $400 million, will become part of Dow's water-soluble polymers business. The new business combines Wolff's production technology and product expertise in hydroxyethyl methyl cellulose and carboxymethyl cellulose with Dow's position in hydroxypropyl methyl cellulose. Cellulose derivatives are used in various applications, including as excipients in pharmaceuticals and in other products such as food, personal care, and other specialty applications.
The deal is expected to close in the first half of 2007, subject to regulatory approval. Financial terms were not disclosed.
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