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French chemicals company Arkema (AKE.FR) Monday said it has assimilated industrial giant Dow Chemical Company (Dow Chemical Co., DOW) reached an agreement to acquire the latter part located acrylates and latex assets in North America.
The two companies jointly announced that, under the agreement, Arkema will be $ 50 million acquisition of Dow Chemical''s reasonably priced, Texas Clear Lake is an acrylate plant, as well as the North American UCAR Emulsion Systems specialty latex business.
Dow said in a statement that the proceeds from the sale of assets will be used to further deleveraging.
The transaction is expected to be completed in the fourth quarter of this year.
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