Dow announces divestiture of its acetone derivatives business
Dow announced that it has reached an agreement for the divestiture of its acetone derivatives business to Altivia Ketones & Additives.
Altivia Ketones & Additives is an affiliate of Altivia, a privately held producer of chemicals headquartered in Houston, Texas. The divestiture includes production assets located in Institute, West Virginia, in addition to the site infrastructure, land and utilities. Dow will remain a tenant on the Institute site, retaining ownership of certain manufacturing assets. The transaction enables the acetone derivatives business to continue reliably and safely serving its customers. Additionally, it allows the Institute site to continue providing site infrastructure services to partners at the site.
Acetone derivatives business expected to be sold by the end of the year
Both companies are working together on a seamless transition plan for all stakeholders. The transaction is expected to close by the end of 2019, subject to customary closing conditions. Acetone derivatives are widely used as solvents and as chemical intermediates. They are used in the coatings industry as solvents for nitrocellulose and other cellulose ethers and for vinyl chloride-vinyl acetate and other resins.
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