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2006-08-08 News Headlines

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North American Automotive Coatings business sold

Rohm and Haas Company agrees to sell its Automotive Coatings business unit located in the United States, Canada and Mexico and including two joint ventures to NPC.

Rohm and Haas Company, Philadelphia, Pa, (NYSE:ROH) announces 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 $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.

Find Information and Suppliers of Automotive Coatings.

Rohm and Haas coatings technologies are for the automotive plastics market. The company offers customized coatings for interior and exterior automotive components. The global Automotive Coatings business research team is focused on plastic technologies and products are designed not only to meet OEM specifications but to also provide customers the processing and first run capability to compete in today's automotive market.

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 ventures with NPC. The transaction does not include Rohm and Haas Company’s European Automotive Coatings business. Rohm and Haas also intends to divest that portion of the business and is actively pursuing potential buyers.

In commenting on the sale, Alan E. Barton, Rohm and Haas Company Vice President and Business Group Executive, Coatings, noted that the sale is consistent with Rohm and Haas Company’s portfolio management strategy. “We have worked closely with NPC as partners in two joint ventures for the automotive industry,” said Barton. “We recognize their commitment to this market, and are pleased that this transaction will continue to provide quality products and services to the customer base we have enjoyed serving.”

Find Information about Rohm and Haas Company.  

Rohm and Haas is a global leader in the creation and development of innovative technologies and solutions for the specialty materials industry. The company’s technologies are found in a wide range of markets including: Building and Construction, Electronics, Industrial Process, Packaging and Paper, Transportation, Household and Personal Care, Water, Food and Retail and Pharma and Medical.

Read a recent press release from Rohm and Haas about - 'Rohm and Haas concentrates efforts for growth in the acrylic polymers, Electronic Materials franchise, high value business platforms and development of workforce.'

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