CHARLOTTE, N.C. (Sept. 24, 2008) — Dow Reichhold Specialty Latex L.L.C., which plans to close its operation in December, is selling a portfolio of performance polymer products and related assets to Mallard Creek Polymers Inc.
Mallard bought product formulas, trademarks and patents for about 50 specialty latex products used in the adhesives, coatings, construction, nonwovens, packaging, personal care, specialty paper and textile industries. Financial terms of the transaction were not disclosed.
"This acquisition enables us to accelerate our strategy of differentiated service and innovation and further demonstrates our commitment to the industry and our customers," said H. Aaron Parekh, Mallard Creek Polymers president and CEO.
Dow Reichhold, a joint venture between the Dow Chemical Co. and Reichhold, Inc., announced in August it planned to close its doors and sell various assets.