RESEARCH TRIANGLE PARK, N.C. (Sept. 4, 2008) — Dow Reichhold Specialty Latex L.L.C. has sold its nitrile-butadiene synthetic latex product recipes, equipment and technology used to make dipped gloves to Bangkok Synthetics Co. Ltd.
Dow Chemical Co. and Reichhold Inc. announced on Aug. 19 they will dissolve the venture, close all facilities and sell its assets by the end of the year. In a Securities and Exchange filing last December, Dow said the venture had lost a significant portion of its business it couldn't replace.
Dow Reichhold said among the assets sold will be process equipment from its plants in Chickamauga, Ga., and Cheswold, Del. Bangkok Synthetics will move the machinery to Thailand, it and plans to build a plant in Map Ta Thut, Thailand, that will have 120,000-metric-tons of annual production capacity.
The new facility is expected to start up in 2010, and will use butadiene provided by the Thai company's own plant. Bangkok Synthetics already operates a 40,000-ton butadiene rubber and 60,000-ton SBR production units at the Map Ta Thut site.
The sale to Bangkok Synthetics, for an undisclosed sum, is expected to close within 30 days.