Dow Chemical to Buy S. African Firm
Dow Chemical Co. on Monday agreed to buy Sentrachem Ltd. for $445 million, the largest U.S. acquisition of a publicly traded South African company since apartheid ended in 1994.
Dow, known for its Handi-Wrap and Saran Wrap brands of plastic film, among other products, will add Sentrachem’s $1.2 billion in annual sales to its own $20 billion. Dow returned to doing business in South Africa in 1995 after an eight-year absence.
“The acquisition reinforces our strategic direction to enhance Dow’s performance-chemicals portfolio,” Dow Chief Executive William Stavropoulos said.
Sentrachem products also include polypropylene, polyethylene, latex, rubber and chlor-alkali derivatives. The company has posted losses for the past several years.
Shares of Midland, Mich.-based Dow fell 19 cents to close at 93.88 on the New York Stock Exchange.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
