Latex manufacturer shuts down RTP plant
Published: Wed, Aug. 20, 2008 02:28PM
Modified Wed, Aug. 20, 2008 02:34PM
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closeDow Reichhold Specialty Latex, the maker of synthetic latexes used in textiles, construction products, and other goods, is closing all of its facilities - including its headquarters in Research Triangle Park - and shutting down all business activities by the end of the year.
The company was formed in 2002 as a joint venture between Dow Chemical Company and Reichhold, Inc. and has 203 employees worldwide.
The Dow Chemical Company intends to buy back the business assets it contributed at the time the joint venture was formed. Dow Chemical will directly service those respective customers in the future.
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Dow Reichhold plans to sell the business assets that it contributed to the venture.
In addition to its headquarters, Dow Chemical will close a manufacturing facility in Cheswold, Del., its Asian-Pacific offices in Penang, Malaysia, and a laboratory and office in Shanghai, China.
vicki.parker@newsobserver.com or (919) 829-4898
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