DuPont Dow Elastomers to be dissolved

Dow Chemical is exercising its option to pull the assets of the Engage ethylene elastomer, Nordel ethylene-propylene-diene rubber, and Tyrin chlorinated polyethylene businesses from the partnership. The US$1.2 billion pa DuPont Dow Elastomers joint venture is to be dissolved very shortly. The two partners expect to close the transactions on June 30, following regulatory approvals and other conditions. At the conclusion of the transaction, DuPont will purchase Dow’s remaining equity interest in the venture for US$87 million and operate the remaining businesses—including Neoprene polychloroprene rubber, chlorosulfonated polyethylene, Kalrez perfluoroelastomer parts, and Viton fluoroelastomers—as wholly owned subsidiaries.