DURHAM, N.C. (March 6)—Dow Chemical Co. and Reichhold Inc. will form a joint venture that combines the specialty latex business of Dow´s Emulsion Polymers unit with Reichhold. Dow also will buy Reichhold´s carpet and paper latex businesses as part of the deal. Terms of the transactions were not disclosed by the companies. The joint venture, to be called Dow Reichhold Specialty Latex L.L.C., will focus mainly on butadiene-based latexes, but also include a broad range of latex chemistries, the firms said in a joint statement. Plans call for the business to employ about 400 and have sales, marketing and research support in North America, Latin America, Europe and the Pacific Rim. Once the deal is finalized, expected within the next few months, the joint venture will be headquartered in Research Triangle Park in Durham. The venture will have two latex production plants, one in Cheswold, Del., the other in Kensington, Ga.