BASF To Acquire Coatings Business From Rohm & Haas
PHILADELPHIA - Rohm and Haas Co. announced an agreement to sell the industrial coatings business that was formerly a part of Morton International Inc. to BASF AG for $175 million. Rohm and Haas acquired Morton Industrial Coatings in June 1999 as part of a $4.9-billion acquisition of Morton International. Sales for the industrial-coatings business were approximately $155 million for fiscal 1998.
The business operates five manufacturing sites in North America, at Batavia, IL; Chicopee, MA; Colton, CA; Decatur, AL; and Orrville, OH, and employs more than 500 people. Rohm and Haas said it will retain industrial-coatings businesses that were not a part of the Morton International acquisition.