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FTC clears Dow Chemical Torrance plant sale

March 21/2012
(chemicals-technology) -- Dow Chemical Company has been cleared by the Federal Trade Commission (FTC) to sell a chemical production facility and associated property in Torrance, California, US, to Hager Pacific Acquisitions.

The sale is necessitated by a 2009 settlement order which resolved the FTC's concerns that Dow's acquisition of Rohm & Haas would reduce competition in acrylic acid and latex polymers markets. The settlement order also said that Dow should divest all of its interest in the Torrance site.

In 2010, the FTC approved Arkema to lease Dow's acrylic acid business and the latex polymers business, as Arkema selected to lease rather than purchase the Torrance site, and gave Dow a year to find a buyer for the Torrance plant, including the site and land leased by Arkema.

The FTC approval will allow Arkema to continue to operate the Torrance facility by leasing it from an affiliate of Hager Pacific Acquisitions. Dow submitted an application to sell the Torrance site to a subsidiary of Hager Pacific Properties, Hager Pacific Acquisitions, in August 2011.


The FTC approval will allow Arkema to continue to operate the Torrance facility by leasing it from an affiliate of Hager Pacific Acquisitions. Dow submitted an application to sell the Torrance site to a subsidiary of Hager Pacific Properties, Hager Pacific Acquisitions, in August 2011.


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Author:Anna Larionova
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Category:General News
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