Dow Sells Ethafoam Business to Sealed Air

Published: October 03, 2007, By pffc-online.com

PRESS RELEASE

MIDLAND, MI | Dow Chemical Co. has signed an agreement for Sealed Air Corp. to purchase certain assets of Dow's Ethafoam performance foam business. The financial terms of the agreement were not disclosed. The completion of the transaction is expected to take place in the fourth quarter of 2007, subject to certain regulatory approvals.

Sealed Air will acquire global rights to certain assets relating to the Dow Ethafoam polyethylene foam product lines, including a license to process technology, customer contracts, trademarks, and certain production and process equipment. The products include polyethylene-based foam products sold under the Ethafoam, Envision, Synergy, and Equifoam trademarks. In addition, Sealed Air will acquire the rights to the Lamdex trademark.

As part of the transaction, Dow will supply products to Sealed Air for a period of up to 18 months following the close of the transaction from Dow's manufacturing facilities in Hanging Rock, OH, and Drusenheim, France. Following that period, Sealed Air will begin manufacturing the products at its own facilities.

Dow's Ethafoam performance polyethylene foam is used in a variety of applications, such as electronics, military sports, leisure, and transportation. See dow.com.