MIDLAND, Mich. (May 12, 2009)—Dow Europe GmbH wants to divest it SBR and polybutadiene rubber business, and has hired a financial adviser to facilitate a sale.
The company said it plans to retain its Dow Elastomers unit, which produces Nordel EPDM and Engage and Affinity olefin-based elastomers and plastomers.
Dow Europe hired J.P. Morgan as its financial adviser to support the divesture.
Just over a year ago, the company said it was putting the SBR/BR unit under strategic review, which might result in a decision to sell the activity. Dow said the business has been, and continues to be, a profitable business and will remain sharply focused on effectively managing operations and delivering exceptional value to customers during this period.
The business is located in central Germany and includes five production plants and a research center in Schkopau, Germany.
Dow Elastomers announced in December 2008 the closure of a large EPDM plant in Seadrift, Texas.