Dow UK to buy Ascot

MIDLAND, Mich. (June 1)—Dow UK P.L.C., a subsidiary of Dow Chemical Co., will acquire the outstanding shares and options of specialty and fine chemical maker Ascot P.L.C. for an undisclosed amount. Dow UK had made a tender offer to purchase Ascot March 29. Dow intends to integrate Ascot's four business units—Haltermann Custom Processing, Haltermann Products, Chirotech and Mitchell Cottsùinto its Custom & Fine Chemicals global business operation that includes Dow Contract Manufacturing Services and ANGUS Chemical. Ascot, with annual chemical sales of about $335 million, has plants in Belgium, Germany, the U.S. and England. Its niche products complement Dow Chemical's offerings in the coatings, inks, household and personal care industries, said George Biltz, vice president of the Custom & Fine Chemicals unit.